Wall Street Analysts Believe Western Digital (WDC) Could Rally 25.25%: Here's is How to Trade

Core Viewpoint - Western Digital (WDC) has shown a significant price increase of 11.5% over the past four weeks, with a mean price target of $175.64 indicating a potential upside of 25.3% from the current trading price of $140.23 [1] Price Targets and Estimates - The mean estimate consists of 22 short-term price targets with a standard deviation of $29.75, indicating variability among analysts. The lowest estimate is $95.00, suggesting a potential decline of 32.3%, while the highest estimate is $250.00, indicating a potential increase of 78.3% [2] - A low standard deviation in price targets suggests a high degree of agreement among analysts regarding the stock's price movement direction, which can serve as a starting point for further research [9] Earnings Estimates - Analysts are optimistic about WDC's earnings prospects, as indicated by a strong consensus in revising EPS estimates higher. This trend has shown a strong correlation with near-term stock price movements [11] - Over the last 30 days, four earnings estimates for WDC have been revised upward, resulting in a 9% increase in the Zacks Consensus Estimate [12] Zacks Rank - WDC currently holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors. This rank serves as a strong indicator of the stock's potential upside in the near term [13] Conclusion on Price Targets - While the consensus price target may not be a reliable measure of the extent of WDC's potential gains, it does provide a useful guide for the direction of price movement [14]