BofA came away from Western Digital meetings ‘bullish’ on position, outlook

After having hosted a call with Western Digital (WDC) CEO Irving Tan to discuss the company post-split, BofA analyst Wamsi Mohan walked away “bullish” on the company’s competitive positioning and business outlook, telling investors that management agreed with the firm’s previously expressed take that hard disk drives remain in an upcycle with opportunities in both revenue growth and improving profitability. The firm’s price target stays at $58 and it leaves estimates unchanged while maintaining a Buy rating on Western Digital shares following the meetings.