Western Digital price target lowered to $85 from $95 at Citi

Citi analyst Asiya Merchant lowered the firm’s price target on Western Digital to $85 from $95 and keeps a Buy rating on the shares. The firm lowered its fiscal 2025 flash selling price margin assumptions, citing the softer expected pricing environment. The analyst recognizes NAND near-term fundamentals “remain volatile.” However, Citi remains constructive on supply/demand dynamics.