Leading financial services firm Wells Fargo has raised the price target on Western Digital (WDC), the pure-play hard disk drive (HDD) company. Highlighting strong demand visibility as the core rationale of its bullish thesis for the stock, the firm has raised its price target on the same to $730 from $575, while reiterating its "Overweight" rating. This implies a potential upside of about 31% from current levels.
The latest price target increase comes just about a month later, when on June 1, the firm had upped the price target to $575.
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