Analysts Cut Western Digital Price Target Post Q2 Results - Western Digital (NASDAQ:WDC)

Analysts lowered their price targets on Western Digital Corp WDC following Q2 FY22 results.
Deutsche Bank analyst Sidney Ho lowered the price target to $70 from $81 (40% upside) and kept a Buy.
The company's guidance was once again below Street estimates, but it remains positioned for a second-half recovery.
The analyst believes the stock's risk/reward is attractive.
Citi analyst Jim Suva reduced the price target to $75 from $80 (50% upside) and kept a Buy.
The analyst says the company's good December results will be overshadowed by the disappointing outlook where sales are 4% and earnings 15% below consensus.
The next catalyst for the stock will be the new CFO strategy communications, which hopefully gains investor credibility.
Barclays analyst Tom O'Malley lowered the price target to $60 from $65 (20% upside) and kept an Equal Weight.
The company announced a material reset on gross margin as component issues and pricing weighs across hard disk drives and flash.
Cowen slashed the Western Digital price target to $60 from $70.
Mizuho analyst Vijay Rakesh cut the Western Digital price target to $78 from $83 (56% upside) and reiterated a Buy.
Price Action: WDC shares traded lower by 7.23% at $49.95 on the last check Friday.

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