The increase in price target by Baird, from $65 to $100, reflects a strong bullish sentiment towards Western Digital's stock. This adjustment suggests that Baird sees significant upside potential for WDC, likely based on the company's performance, market position, or future growth prospects. Such a substantial increase in the price target can positively influence investor sentiment and potentially lead to a short-term increase in the stock price, as market participants may adjust their valuations based on this new analyst outlook.