Western Digital price target lowered to $85 from $87 at Citi

Citi lowered the firm’s price target on Western Digital (WDC) to $85 from $87 and keeps a Buy rating on the shares. The analyst says Citi’s memory analyst revised down 2025 NAND selling price growth forecasts to down 2% year-over-year from up 5% prior due to weaker than expected mobile and PC demand in the first half of the year, with an anticipated turnaround beginning Q3 of 2025. Citi recognizes NAND near-term fundamentals remain volatile, but continues to remain constructive on Western Digital’s forthcoming spin-off unlocking value.