Cantor Fitzgerald and Goldman Sachs Lift Western Digital (WDC) Price Targets

Western Digital Corporation (NASDAQ:WDC) is one of the 15 AI Stocks That Are Skyrocketing. On February 4, Cantor Fitzgerald increased its price target on Western Digital Corporation (NASDAQ:WDC) from $325 to $420 and kept its Overweight rating after the company’s Innovation Day event held in New York City.

During the event, company management talked about technology advances, product roadmaps, and shared an updated financial model.

Cantor Fitzgerald pointed out that Western Digital Corporation’s (NASDAQ:WDC) expected growth and profitability are “significantly better than the company (and industry) had previously projected.” The firm now forecasts that the company’s earnings per share for calendar year 2028 could range between $19 and $32.

Earlier, on February 3, Goldman Sachs also raised its price target on Western Digital Corporation (NASDAQ:WDC) from $220 to $250 and maintained its Neutral rating. The company confirmed that its HAMR product rollout is still on track for the first half of 2027.

Additionally, Western Digital Corporation (NASDAQ:WDC) said that one more customer has entered the qualification stage for its HAMR solutions. Goldman Sachs raised its 2026-2028 non-GAAP earnings per share estimates for the company by an average of 22% after the company updated its long-term guidance.

Western Digital Corporation (NASDAQ:WDC) is an American company that manufactures hard disk drives and other data storage products.

While we acknowledge the potential of WDC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 12 Best Oil and Gas Stocks to Buy Right Now and 10 Best AI Software Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.