Goldman Sachs Analyst Admits March Upgrade On Western Digital 'Wrong Call,' Downgrades This Time

October 15, 2021 7:09 AM | 1 min read | Make a Comment

Goldman Sachs analyst Toshiya Hari downgraded Western Digital Corp WDC to Neutral from Buy with a price target of $62, down from $91, implying a 9.6% upside.
The analyst expects cyclical pressures in the NAND business to more than offset the company's improving competitive position in nearline HDD and enterprise SSD.
Hari acknowledged that his upgrade in early March was the "wrong call" and now awaits a better entry point from the sidelines.
Price Action: WDC shares traded lower by 2.56% at $55.1 in the premarket session on the last check Friday.