Bank of America Expects Strong Results from Seagate and Western Digital

Bank of America expects strong demand and pricing momentum for Seagate and Western Digital, citing data center demand, tight supply conditions, and continued pricing momentum. The firm raised its price targets for both stocks, with Seagate's target rising to $400 from $320 and Western Digital's target rising to $257 from $197. BofA expects both companies to report solid Q1 results, with Seagate's revenue and EPS expected to be in the upper half of guidance.