Bank of America raised its price target for Western Digital (WDC) to $375 from $345 following a series of investor meetings, signaling continued confidence in the company's growth trajectory.
- The stock recently saw an 8.19% decline to $262.56, which analysts characterize as a technical correction after a massive 28% rally earlier this month.
- Market optimism is fueled by WDC's new AI-focused 40TB-100TB storage roadmap and a significant $4 billion expansion of its share buyback program.
- The upward revision reflects long-term confidence in the company's pure-play HDD strategy and its positioning within the AI infrastructure sector.