Evercore ISI Raises PT on Western Digital Corporation (WDC), Keeps a Buy Rating

Company Overview - Western Digital Corporation (NASDAQ:WDC) is recognized as a leading large-cap stock with significant investment potential, as indicated by a price target increase from $85 to $190 by Evercore ISI analyst Amit Daryanani, who maintains an outperform rating on the stock [1]. Industry Insights - The Hard Disk Drive (HDD) industry is poised to benefit from structural tailwinds driven by artificial intelligence (AI) and increasing cloud demand, which are expected to enhance exabyte shipment growth, pricing discipline, and technological advancements [2]. - The HDD sector is undergoing a transformation that may lead to price re-evaluations and sustained financial performance, indicating a positive outlook for companies like Western Digital [3]. Product and Market Position - Western Digital develops and manufactures a variety of storage devices and solutions catering to diverse users, including students, gamers, enterprises, and public cloud services [3].