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Western Digital’s Stock Has Gained 40% This Year. There’s More Upside, Analyst Says.

Western Digital’s Stock Has Gained 40% This Year. There’s More Upside, Analyst Says.

Western Digital shares have more room to run, a Mizuho analyst remarked Tuesday, citing the company’s pricing power and potential for higher sales as it heads into its earnings release this month. The stock of the data storage seller has already gained about 40% this year compared with the tech-heavy Nasdaq Composite index, which is up 8.7%. Last week, Rosenblatt Securities’ Kevin Cassidy upgraded Western Digital stock to Buy from Neutral, mentioning the firm’s ability to charge higher prices.