We recently published 13 Stocks Jim Cramer Commented On. Western Digital Corporation is one of the stocks Jim Cramer commanded on.
Western Digital Corporation is a computer memory storage manufacturer. The strong movement in the firm’s shares, with the stock up by 404% over the year, has also stimulated plenty of analyst coverage. For instance, Rosenblatt recently commented on Western Digital Corporation, increased the share price target to $270 from $165, and kept a Buy rating on the stock. The financial firm outlined that the technology company can benefit from its build-to-order strategy and approval for its heat-assisted magnetic recording devices for the data storage industry. Similarly, Bank of America raised Western Digital Corporation’s share price target to $257 from $197 and kept a Buy rating. As per BofA, the firm can benefit from a stable pricing environment and post strong fiscal second-quarter earnings. Western Digital Corporation’s share price performance hasn’t escaped Cramer’s attention either, as the CNBC TV host also discussed the demand for the firm’s products:
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“Okay, so, here’s the ones that have a shortage that can’t be met. . . .Western Digital. . .Those stocks are up. . .40[%]. . .this is from the year began.”
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This article is originally published at Insider Monkey.
