UPDATE: J.P. Morgan Raises Price Target on Western Digital to $39

According to J.P. Morgan, Western Digital

price target is raised to $39. J.P. Morgan said that it expects shares of Neutral-rated WD to move higher in the near term. “To become more constructive on the stock, we need to see how HDD dynamics evolve once consolidation events are in the rearview mirror.” Western Digital closed yesterday at $34.65.