JP Morgan Rates Western Digital (WDC) buy, $650 Price Target

JP Morgan maintains a 'buy' rating on Western Digital, setting a target price of $650 as the stock trades at $721.88, a 9.96% downside from the current price.

By EarningsIQ Research Desk · Published Jun 12, 2026, 9:10 PM EDT · Updated Jun 18, 2026, 11:01 AM EDT

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JP Morgan rated Western Digital Corporation ($WDC) "buy" with a $650 price target on June 12, 2026.

Since the rating, $WDC is up 30.1% after 1 week, down 1.3% after 1 month and down 41.0% to date (from the $562.75 close on Jun 12, 2026).

WDC Western Digital Corporation

$332 +77.07% year to date

Daily close · Oct 16, 2026

Key Points

JP Morgan reiterated its buy rating on Western Digital Corporation (WDC) with a price target of $650 on June 12, 2026.
JP Morgan's $650 price target implies 9.96% downside from Western Digital Corporation's ($WDC) current $721.88 share price.
The stock recently closed at $721.88, indicating a gap of $68.12 to the new target price.
Analysts have diverse opinions, with a consensus target mean price of $668.50 among 24 analysts.

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JP Morgan's Latest Rating on Western Digital

JP Morgan has reiterated its buy rating on Western Digital Corporation (WDC) with a price target of $650, as of June 12, 2026. The stock is currently trading at $721.88, which places it above the new target price by $68.12. This rating reflects JP Morgan's confidence in the company's potential for growth in the technology sector, specifically in data storage solutions.

Analysts Set New Price Targets

In addition to JP Morgan's rating, several other firms have recently maintained their positions on Western Digital. On October 16, 2026, Wells Fargo kept an Overweight rating with a target of $450, down from $730. UBS also maintained a Neutral rating with a target of $470, down from $525 on October 12, 2026. Citigroup continues to express optimism, holding a Buy rating with a target of $740, though this was a reduction from $800 on August 7, 2026. TD Cowen also maintained a Buy rating, raising its target to $540 from $500 on August 6, 2026. Overall, the consensus target mean price among analysts stands at $668.50, indicating some differing perspectives on the stock's future.

Stock Performance Context

The stock's current price of $721.88 is significantly higher than its 52-week low of $117.23, showcasing a strong recovery. However, it remains below the 52-week high of $799.87. This context is crucial as investors weigh the implications of the new target set by JP Morgan, especially as the company approaches its next earnings report scheduled for October 22, 2026.

12-month forecast

$WDC price target

Western Digital Corporation daily closes and this analyst's $650 target. Not advice.

What Western Digital Corporation Does

Western Digital Corporation specializes in developing and manufacturing data storage devices, including hard disk drives and external drives. It serves various markets across the globe, providing solutions for data centers, personal computing, and consumer electronics. The company's strong position in the tech industry makes it a focus for analysts and investors alike.

What to Watch at Western Digital Corporation

Investors should keep an eye on Western Digital's upcoming earnings report on October 22, 2026, which could provide further insights into the company's performance and market position. Additionally, the recent analyst ratings reflect opinions as of the reporting date and may not represent current positions. As always, it’s important for investors to conduct their own research and consider multiple viewpoints before making investment decisions.