Western Digital target raised to $575, driven by surging AI storage demand

Evercore ISI raised its price target for Western Digital (WDC) to $575. The previous price target range was $410 to $550. Analysts reaffirmed an Outperform rating for the shares.

The new valuation suggests significant upside from current trading levels. Evercore identifies Western Digital as a critical and underappreciated player in AI infrastructure.

Surging multi-year demand for hard disk drives (HDDs) supports this outlook. These drives provide essential storage for vast amounts of data generated by AI workloads.