Wells Fargo cuts Western Digital stock target from USD 730 to USD 450

Published on 10/19/2026 at 10:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wells Fargo keeps Overweight after October 16, 2026 target cut. Western Digital stock costs EUR 303.03 on October 19, 2026, 2.58 percent above Xetra close.

Company catalysts

Wells Fargo maintained an Overweight rating after cutting its target from USD 730 to USD 450 on October 16, 2026.
Fiscal fourth-quarter revenue rose 44 percent year over year to USD 3.75 billion on August 5, 2026.
Western Digital stock trades at EUR 303.03 at 10:00 a.m. CEST at Lang & Schwarz on October 19, 2026, 2.58 percent above the Xetra close of October 16, 2026.
Western Digital plans to report fiscal first-quarter 2027 results after the market close on October 22, 2026.

Isometrische Lieferkette Datenspeicher, Western Digital, ISIN US9581021055 — Isometrische 3D-Grafik visualisiert Wertschöpfungskette der Datenspeicherproduktion von Western Digital, ISIN US9581021055, schematisch dargestellt, Illustration mit AI erstellt.

Western Digital (ISIN US9581021055) trades at EUR 303.03 at Lang & Schwarz on October 19, 2026 at 10:00 a.m. CEST, up 2.58 percent versus the Xetra close of October 16, 2026 at EUR 295.40. According to Stocktwits on October 16, 2026, Wells Fargo cut its Western Digital target from USD 730 to USD 450 while maintaining an Overweight rating.

Target cut meets strong results

The target reduction came despite a powerful operating backdrop. Western Digital reported fiscal fourth-quarter revenue of USD 3.75 billion on August 5, 2026, up 44 percent year over year, while adjusted gross margin reached 54.4 percent, according to Stocktwits. The report described Wells Fargo's view as constructive on revenue growth of 25 percent to 30 percent or more and a path toward gross margins of 60 percent to 65 percent or higher.

Western Digital's fiscal 2026 earnings call added operational detail. Yahoo Finance reported that full-year revenue rose 36 percent to USD 12.9 billion, free cash flow reached USD 3.5 billion, and fiscal fourth-quarter earnings per share increased 109 percent year over year to USD 3.56. These figures explain why the valuation debate now centers on durability rather than near-term demand alone.

Three dated signals shape WDC

Western Digital's recent chronology is clear: fiscal fourth-quarter revenue reached USD 3.75 billion on August 5, 2026; S&P Global Ratings revised its outlook to positive from stable on September 24, 2026 while affirming BBB-minus; and Wells Fargo lowered its target to USD 450 from USD 730 on October 16, 2026.

What comes next for earnings?

Market Chameleon reported that Western Digital plans to release fiscal first-quarter 2027 results after the market close on October 22, 2026. The same report said the company will hold its conference call at 4:30 p.m. ET, giving investors a defined checkpoint for revenue, margins and customer demand.

Stock trades above Xetra close

The market is weighing a lower bank target against strong reported growth and a near-term earnings date. Finzer identifies Western Digital as a Nasdaq-listed company under ticker WDC and assigns ISIN US9581021055, confirming the instrument used here.

Western Digital stock was trading at EUR 303.03 at Lang & Schwarz on October 19, 2026 at 10:00 a.m. CEST, 2.58 percent above the Xetra close of October 16, 2026 at EUR 295.40. The further course of trading is shown by the continuously updated real-time quote of Western Digital stock.