Western Digital's stock plummeted 5.09% during intraday trading on Wednesday, marking a significant decline for the data storage solutions provider.
The sharp drop came amid mixed analyst sentiment on the stock. While several financial institutions raised their price targets and maintained positive ratings on Western Digital, Goldman Sachs maintained a Neutral rating despite increasing its price target from $220 to $250. This cautious stance from Goldman Sachs, with the new target remaining below the stock's trading level, appears to have contributed to the selling pressure.
Other analysts were more bullish, with BNP Paribas raising its target to $375 from $250 while maintaining an Outperform rating, Citigroup increasing its target to $335 from $325, and Mizuho boosting its target to $340 from $325. Rosenblatt also maintained its Buy rating on the company.
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