Stock Track | Western Digital Soars 8.51% in Pre-Market on Morgan Stanley's Bullish Report and Price Target Hike

Stock Track04-08

Western Digital's stock surged 8.51% in pre-market trading on Wednesday, continuing its upward momentum from previous sessions.

The significant price movement follows a highly optimistic research report from Morgan Stanley that reaffirmed its Overweight rating on the company and raised its price target from $369 to $380. The investment firm highlighted unprecedented strength in demand and pricing within the hard disk drive market, with supply shortages expected to persist until 2028.

Morgan Stanley's analysis indicates Western Digital is deeply undervalued, trading at just 13-14 times projected 2027 earnings per share. The report emphasized the favorable HDD market structure with only three major players and no new greenfield capacity being added. The firm projects that HDD suppliers are negotiating procurement orders with major hyperscale cloud customers at prices approximately 30% above current assumptions, which should drive Western Digital's gross margins into the mid-to-high 50% range by early 2027.

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