Morgan Stanley Lifts Wdc Stock Price Target to $650

Wdc stock climbed 16.10 percent on Monday after Morgan Stanley raised its price target to $650 from $488 and kept an overweight rating. The move pushed Western Digital to a new all-time high and gave the shares a third straight day of gains.

Western Digital Hits $658.80

$658.80 was the intraday high as the market pushed Western Digital past Morgan Stanley’s new target. The stock then finished Monday at $653.53 a share, leaving it above the updated price objective and extending a rally that had already lasted three sessions.

33 percent is the size of the target increase Morgan Stanley applied in one step, a sharp reset from the prior $488 level. That move came with the bank’s view that Western Digital’s dual-tracked UltraSMR/HAMR roadmap is undervalued by investors, putting the stock’s product mix and long-term earnings path at the center of the call.

Morgan Stanley’s $22.40 View

$22.40 is Morgan Stanley’s earnings estimate for next year, followed by $43.47 in 2028. The firm also said Western Digital’s stock price has the potential to double next year if its bull-case pricing assumptions play out, a call that ties the upgrade to a much higher earnings path than the market had been pricing in.

Western Digital’s own tape on Monday showed how quickly the valuation can move when the Street adjusts its framework. The shares had already been advancing before the note, then jumped to a new high once the $650 target and overweight rating became the new reference point for traders.

For holders of the shares, the immediate marker is simple: the stock ended Monday at $653.53, above Morgan Stanley’s target and far above the old $488 view. If that gap persists, the next price debate will center less on whether the stock can hold the move and more on whether the earnings estimates tied to UltraSMR and HAMR can keep catching up.