Argus Lowers WDC Price Target to $65, Maintains Buy on Growth Prospects

Argus recently lowered the price target on Western Digital Corporation (NASDAQ:WDC) to $65 from $88 and kept a Buy rating on the shares. Western Digital develops, manufactures, and sells data storage devices and solutions.

In an investor note, the analyst told investors that memory and data storage demand in the enterprise and cloud markets appeared to be growing, and Western Digital was positioned for solid top- and bottom-line growth across the remainder of FY25 and into FY26, though the advisory was adjusting its model to account for the SanDisk separation.

Argus Analyst Explains Solid Growth Position for WDC

The firm recently announced that it would take a significant step forward in enhancing shareholder value with a new $2 billion share repurchase program. Moreover, Cerabyte, a ceramic-based data storage solutions firm, recently announced a strategic investment from WDC. The partnership will accelerate the development of Cerabyte’s ground-breaking ceramic data storage technology, designed to meet the growing demand for permanent accessible long-term data storage in existing and new use cases.


READ NEXT: 33 Most Important AI Companies You Should Pay Attention To and 30 Best AI Stocks to Buy According to Billionaires