Western Digital price target raised to $73 from $55 at Loop Capital

Loop Capital raised the firm’s price target on Western Digital to $73 from $55 and keeps a Buy rating on the shares. The analyst cites the company’s better than expected Q2 results as well as a press report that the potential merger of Western Digital’s Flash business and Kioxia could be back on. The firm further cites the company’s expectations of improved pricing and supply / demand dynamics, which supports the view that both Flash and HDD are entering multi-year growth periods.