Western Digital moves higher with peers, levels to watch Shares are up nearly 3% at time of writing, trading well above the 10-day moving average at $47.30, which is now support. Resistance is at $49.50, the most recent pivot high on the daily chart.
Western Digital upgraded to Buy from Neutral at BofA/Merrill BofA/Merrill upgraded Western Digital to Buy and maintained its $117 price target. The firm believes fundamentals have bottomed and valuation is attractive at current levels. BofA/Merrill lowered estimates on further PC weakness but said pricing is holding up and the mix shift to capacity HDDs is driving ASP and margin improvement.