Western Digital price target lowered to $80 from $89 at BofA

BofA analyst Wamsi Mohan lowered the firm’s price target on Western Digital (WDC) to $80 from $89 and keeps a Buy rating on the shares. The firm’s FY25 revenue and EPS estimates are lowered to $15.8B and $5.77 from $16.8B and $7.46, respectively, and it moves to a valuation based on calendar 2026 estimates. Near-term estimates are depressed as both the NAND and HDD businesses are coming off a cyclical downturn, the analyst tells investors.