Bank of America raised its price target on Western Digital (WDC) to $800. The previous target was $720. This change occurred on Wednesday.
The bank maintains a "buy" rating on the data storage provider's stock. The new target suggests significant potential upside from the stock's current price.
This move precedes Western Digital's quarterly earnings report. The report is expected on October 22.
BofA Securities expects the company to benefit from strong pricing for hard disk drives (HDDs). This is amid high demand.
Wall Street analysts hold a generally positive sentiment for the company. The consensus rating is "Moderate Buy."