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Leading data storage manufacturer Western Digital (WDC) is back on investors’ radar. The chip stock, which has already staged a remarkable performance on Wall Street over the recent years, climbed almost 7% on Nov. 10 after Loop Capital raised its price target from $190 to a Street-high $250. According to the firm, new analysis points to at least a 10% increase in hard-disk-drive (HDD) capacity demand compared with its previous 2026 estimates.
The investment firm also expects Western Digital to benefit from higher average selling prices on larger-capacity drives, calling the trend “materially accretive.” With HDD economics improving and WDC stock helping to crack open the broader rerating conversation, analysts believe a higher earnings multiple is reasonable and could move toward the upper end of recent price-to-earnings (P/E) ranges.
