Barclays Upgrades Western Digital to Overweight, Raises Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Tom O'Malley has upgraded Western Digital (NASDAQ:WDC) from Equal-Weight to Overweight and increased the price target from $45 to $65, indicating a more bullish outlook on the company's stock.
January 16, 2024 | 4:54 pm
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POSITIVE IMPACT
Western Digital's stock rating has been upgraded by Barclays from Equal-Weight to Overweight with a price target increase from $45 to $65, suggesting a positive outlook for the stock.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they reflect an expectation of better future performance or undervaluation. The substantial increase in the price target from $45 to $65 by a reputable firm like Barclays is likely to instill investor confidence and could result in a short-term price increase for WDC stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100