Western Digital Corp. (NASDAQ:WDC) ranks among the most undervalued NASDAQ stocks to buy now. Benchmark raised its price target for Western Digital Corp. (NASDAQ:WDC) to $115 from $85 on September 16, retaining a Buy rating on the company’s shares. According to Benchmark, the hike is a result of extended lead times for high-capacity drives, which have reached nearly a year due to increased demand.
Benchmark has also amended its fiscal year 2026 projections for Western Digital Corp., now forecasting non-GAAP earnings of $7.29 per diluted share on sales of $11.43 billion. This figure is up from its earlier expectation of $6.92 per diluted share on sales of $11.15 billion.
The firm expects Western Digital’s performance to be driven by the sustained strength of its AI and data center clients in fiscal year 2027.
Western Digital Corp. is a well-known manufacturer and developer of data storage solutions and devices. The company’s product lines include external storage systems, NAND flash-based solutions, and hard disk drives (HDDs).
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This article is originally published at Insider Monkey.
