Wells Fargo Believes Western Digital (WDC) Won’t Stop Here


In a report released yesterday, Aaron Rakers from Wells Fargo maintained a Buy rating on Western Digital (WDC). The company’s shares closed last Wednesday at $74.76, close to its 52-week high of $77.54.

According to TipRanks.com, Rakers is a 5-star analyst with an average return of 26.7% and a 71.4% success rate. Rakers covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Dell Technologies, and Cisco Systems.

Western Digital has an analyst consensus of Strong Buy, with a price target consensus of $88.61, implying a 20.4% upside from current levels. In a report issued on May 18, Mizuho Securities also maintained a Buy rating on the stock with a $90.00 price target.

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The company has a one-year high of $77.54 and a one-year low of $33.53. Currently, Western Digital has an average volume of 4.85M.

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Western Digital Corp. engages in the development, manufacture, market and sale of data storage devices and solutions. It operates through the following product categories: client devices, data center devices and solutions, and client solutions. The client devices category includes mobile, desktop, gaming and digital video hard drives, solid state drives (SSDs), embedded products, and wafers. The data center devices and solutions category covers capacity and performance enterprise hard disk drives (HDDs), enterprise SSDs, data center software, and system solutions. The client solutions category offers removable products, hard drive content solutions, and flash content solutions. The company was founded by Alvin B. Phillips in 1970 and is headquartered in San Jose, CA.

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