Citigroup Cuts Western Digital (WDC) Price Target to $660
Key Points
- Citigroup maintained its Buy rating on Western Digital Corporation WDC on October 23, 2026, while lowering its price target from $740.00 to $660.00.
- Citigroup's $660 price target implies 92.12% upside from Western Digital Corporation's ($WDC) current $343.54 share price.
- Western Digital recently traded at $343.54, sitting below both its 50-day and 200-day moving averages as well as analyst targets.
- The data storage company reported trailing twelve month revenue of $12.92 billion and expects its next earnings report on February 4, 2027.
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Citigroup kept its Buy rating on Western Digital Corporation WDC on October 23, 2026, while adjusting its price target down from $740.00 to $660.00. The research note was issued alongside updates from several other major Wall Street firms regarding the data storage provider. Western Digital closed at $343.67 on October 23, 2026.
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Citigroup's Call on Western Digital
In its October 23, 2026 note, Citigroup kept a positive stance on Western Digital Corporation WDC by reiterating its Buy rating. The firm lowered its target price on the stock from $740.00 down to $660.00. This forward-looking rating represents the analyst's view on the company's long-term potential despite shifting market conditions.
Western Digital Corporation Stock Down 9.2%
Western Digital Corporation shares recently traded around $343.54 as of October 23, 2026, remaining well below the 50-day moving average of $435.87 and the 200-day moving average of $413.93. The stock sits down about 57.1% from its 52-week high of $799.87, while holding above its 52-week low of $121.72.
$WDC price target
Western Digital Corporation daily closes and this analyst's $660 target. Not advice.
Recent Earnings
Western Digital Corporation posted trailing twelve month revenue of $12.92 billion with earnings of $26.92 per share. The company reported a net profit margin of 72.9% and a return on equity of 130.9%. The next quarterly earnings report is scheduled for release on February 4, 2027.
Dividend
Western Digital Corporation pays an annual dividend rate of $0.60 per share, giving investors a dividend yield of 0.17% with a payout ratio of 1.9%.
Insider Buying and Selling at Western Digital Corporation
Insiders completed four transactions in the months leading up to the announcement, including sales by Director Stephanie A Streeter and officers Cynthia Lock Tregillis and Vidyadhara K Gubbi.
Analysts Set New Price Targets
Several firms updated their views on October 23, 2026, with UBS maintaining a Neutral rating and a $435.00 target, JP Morgan maintaining an Overweight rating and a $650.00 target, TD Cowen maintaining a Buy rating and a $430.00 target, and Rosenblatt maintaining a Buy rating and a $650.00 target. The stock carries a consensus buy recommendation from 24 analysts with a mean price target of $636.08.
About Western Digital
Western Digital Corporation builds data storage hardware and solutions, focusing on hard disk drive technology for consumers and large data centers. Based in San Jose, California, the company supplies portable drives, internal storage, and server platforms across global markets.
Bottom Line
Investors will look toward the company's next earnings report on February 4, 2027, for further updates on financial performance. Market participants continue to monitor how storage demand influences analyst expectations and share price movement.
Related Filing Alerts
Source: Citigroup's rating change on $WDC (Oct 23, 2026). Written by software, not financial advice. How we make alerts