Analysts reaffirm bullish ratings on Western Digital after strong quarterly results
Evercore ISI reiterated an Outperform rating with a $575 price target, and Cantor Fitzgerald kept an Overweight rating with a $625 price target for Western Digital Corp. The company posted September quarter revenue of $4.38 billion and earnings per share of $4.64, beating expectations. Guidance for the December quarter implies about 69% year‑over‑year revenue growth and a 60.5% gross margin.
Why it matters
The maintained bullish ratings and higher price targets signal analyst confidence in continued revenue expansion, which could support the stock price. Investors may adjust their valuation models based on the new targets and the strong guidance.
Key facts
- 1Evercore ISI reiterated an Outperform rating and set a $575 price target for Western Digital. investing.com
- 2Cantor Fitzgerald maintained an Overweight rating and set a $625 price target for Western Digital. tradingview.com
- 3Western Digital reported September quarter revenue of $4.38 billion. investing.com
- 4Western Digital reported September quarter earnings per share of $4.64. investing.com
- 5The company’s December quarter guidance implies approximately 69% year‑over‑year revenue growth. investing.com
- 6Guidance for the December quarter includes a gross margin of 60.5% at the midpoint. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.