05:03 PM EDT, 04/26/2024 (MT Newswires) -- Western Digital ( WDC ) fiscal Q4 revenue guidance is "very conservative," given a favorable NAND outlook and improved volume and pricing for hard disk drives, Wedbush said Friday in a report.

Western Digital ( WDC ) exceeded expectations in Q3, and in Q4, "we are again modeling to roughly the high point" of the company's guidance on the product price and volume outlook, Wedbush said.

"Net, even assuming [Western Digital ( WDC )] performs somewhat worse than the industry on each of the metrics, they should still very handily exceed the high end of their expectations," Wedbush said.

The company "is well positioned to further ramp earnings significantly on continued solid NAND and HDD fundamentals through the back half" of calendar 2025, Wedbush said.

Wedbush affirmed its outperform rating on the company "and would add to positions on any weakness." The price target was kept at $85.

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