Mizuho analyst Vijay Rakesh lowered the firm’s price target on Western Digital (WDC) to $82 from $90 and keeps an Outperform rating on the shares. The firm modestly lowered first half of 2025 estimates citing NAND softness commentary from Western Digital and Micron’s earnings. Also, with Western Digital completing and its Form 10 filing, Mizuho took a look at the potential spinoff timeline of late January. The firm believes a standalone Western Digital hard-disk-drive business could trade at $75 per share or $27B, a 19% premium from recent prices of $63, and the standalone SanDisk could trade at $20 per share or $7.1B. Mizuho sees a spin out valuation of $95 per share, with $75 of remaining company and $20 for NAND versus the current $63 share price.
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDC:
- Early notable gainers among liquid option names on January 2nd
- Citi sees ‘continued decoupling’ in memory pricing, calls SK top buy
- Micron sinks on guidance, TripAdvisor to buy Liberty TripAdvisor: Morning Buzz
- Micron downgraded, Block upgraded: Wall Street’s top analyst calls
- Western Digital price target lowered to $93 from $100 at Morgan Stanley