Western Digital Corporation (NASDAQ: WDC), a major player in the data storage industry has seen it’s stock fade 9.36% so far through 2025, as markets have pulled back. Some positive news for holders on the day comes as Bank of America upgrade their price target on the stock post the spinoff of the SanDisk flash business.
The revised price target reflects the completion of Western Digital’s strategic move to spin off its SanDisk flash segment. BofA analyst Wamsi Mohan has changed the firm’s price target on Western Digital to $58 while maintaining a Buy rating.
Before the spinoff, BofA had a price target of $82 on the company’s stock. The firm has also adjusted its forecast for the fiscal year 2025 revenue and EPS to $9.3 billion and $4.52 respectively. This is a notable shift from pre-spin estimates which anticipated $16.6 billion in revenue and an EPS of $6.09.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Headquartered in San Jose, California, Western Digital operates in the technology sector, with a focus on manufacturing and selling data storage devices and solutions globally. The company offers a variety of storage products under the Western Digital, SanDisk, and WD brands catering to various segments such as personal computers, mobile phones, and enterprise applications. They are particularly known for their client devices, enterprise SSDs (solid-state drives), data storage platforms, and flash-based embedded storage products.
Western Digital holds a market capitalisation of approximately $14.94 billion, sporting a 52-week price range between $39.42 and $61.64.
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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
