BofA and Cantor Boost Western Digital Targets to $495–$500 on Tight HDD Supply

Overview

• Bank of America raised its Western Digital price target to $495 and reiterated a Buy rating.
• Cantor Fitzgerald lifted its target to $500 and kept an Overweight view, pointing to a likely beat‑and‑raise quarter.
• Analysts say hard‑disk supply is constrained as manufacturers hold output flat, creating room for higher prices.
• Cantor adds that with SanDisk monetized and a zero‑debt balance sheet, Western Digital can generate cash for buybacks and dividends.
• At a February Innovation Day, the company outlined 100TB‑plus drives, 40TB UltraSMR qualifications, and HAMR work aimed at AI‑scale storage.