UBS Raises Price Target on Western Digital to $75, Reaffirms Neutral Rating

UBS analyst Timothy Arcuri raised Western Digital's (WDC) price target from $45 to $75, a 66.67% increase, while maintaining a neutral rating. This suggests a positive outlook on the stock's potential value. The updated price target implies confidence in Western Digital's performance, while the maintained neutral rating implies a wait-and-see approach. The average one-year price target from 21 analysts is $62.81, with a high estimate of $85 and a low of $40. The average brokerage recommendation is 2.0, indicating an "Outperform" status.

UBS analyst Timothy Arcuri has recently raised the price target for Western Digital (WDC) from $45 to $75, representing a significant 66.67% increase. This move reflects a positive outlook on the stock's potential value, despite maintaining a neutral rating. The updated price target suggests confidence in Western Digital's performance, while the neutral rating indicates a wait-and-see approach.

The average one-year price target from 21 analysts is $62.81, with a high estimate of $85 and a low of $40. The average brokerage recommendation is 2.0, indicating an "Outperform" status. This consensus rating score of 2.86 for Western Digital is higher than the average consensus rating score for "computer and technology" companies, which is 2.66.

Over the past 90 days, Western Digital has seen 2 upgrades by analysts, including the recent adjustment by UBS. Analysts covering Western Digital include Bank of America, Barclays, BNP Paribas, Citigroup, JPMorgan Chase & Co., Loop Capital, Morgan Stanley, Rosenblatt Securities, Summit Insights, TD Cowen, TD Securities, The Goldman Sachs Group, UBS Group, Wedbush, and Wells Fargo & Company.

The current stock price of Western Digital is $68.74, and the average predicted downside based on analysts' 12-month forecasts is -2.76%. This suggests a limited risk for investors considering the stock.

In summary, the latest price target increase by UBS analyst Timothy Arcuri signals a positive outlook on Western Digital's potential value. The maintained neutral rating suggests a cautious approach, but the overall consensus indicates a favorable view of the stock.

References
[1] https://www.marketbeat.com/stocks/NASDAQ/WDC/forecast/