BTIG maintains Buy on Western Digital Corp. (NASDAQ: WDC), keeps price target of $85.00.

Analyst Edward Parker comments "Amultitude of positive dynamics are coalescing at WD, including strong supply/demand fundamentals in NAND, increasing uptake of high capacity hard drives, relief in the PC segment, a broadening and increasingly strategic solution set, and excellent execution thus far integrating HGST and Sandisk and reducing costs, all of which are driving favorable pricing, better than expected revenue, higher gross margins, and most importantly EPS upside, strong cash flows, and an improving deleveraging outlook. The net of it is that the stars have aligned at a critical time post acquisition, but we stress that beneath the emergence of favorable cyclical conditions is a compelling technology story and a secular backdrop that will likely result in the sustaining of trends rather than a reversion to the mean."

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Shares of Western Digital Corp. closed at $80.02 yesterday.