Goldman Sachs Cuts Western Digital Price Target: HDD Expansion Concerns Cap Valuation, Favors Seagate on Smooth HAMR Progress
Western Digital's quarterly results and next-quarter guidance both far exceeded Wall Street expectations, with strong cloud and client performance. However, amid potential competitive expansion pressure and lower comparable…
Western Digital's quarterly results and next-quarter guidance both far exceeded Wall Street expectations, with strong cloud and client performance. However, amid potential competitive expansion pressure and lower comparable valuation multiples, Goldman Sachs raised its earnings estimates but cut the price target to $540 and maintained a "neutral" rating, relatively favoring Seagate on its smooth HAMR transition.
Original: https://wallstreetcn.com/articles/3784310
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