Western Digital upgraded at Rosenblatt on strengthening NAND Flash prices

Western Digital (NASDAQ:WDC) was lifted to Buy from Neutral at Rosenblatt on Friday, with the firm raising its price target for the stock to $115 from $65 per share.

Analysts at the firm said they are upgrading the stock based on NAND Flash pricing and the upward momentum.

"Industry data points are suggesting that 2Q24 NAND Flash average contract prices will increase by 15%+ sequentially from the combination of increasing demand, low inventories, and disciplined capacity controls," explained analysts.

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