Western Digital Rebound To Continue, Vetr Crowd Says

Shares of Western Digital Corp WDC have had a tough year, losing more than 22 percent of their value year-to-date. However, the shares have rebounded almost 32 percent from their mid-May lows. And, the Vetr crowd seems to believe the recuperation will continue, as evidenced by its average price target of $51.50. This implies a potential return of roughly 9.9 percent from current valuations.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Seeking to better reflect this upside potential, the Vetr community decided upgrade its rating on shares of Western Digital on Thursday, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.

Finally, it should be noted that 66 percent of the crowd’s ratings are bullish, indicating that those positive on the stock are particularly optimistic, and have thus pushed the average price target higher.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.