NEW YORK (TheStreet) -- Shares of Western Digital (WDC) - Get Report were advancing in early-morning trading on Tuesday as Longbow Research boosted its rating on the stock to "buy" from "neutral," the Fly reports.

The firm also set a $70 price target on shares of the Irvine, CA-based storage technology company.

Longbow believes the company's near-term demand trends are "favorable," while its acquisitions should also help increase its bottom line and reduce debt, the Fly noted.

The firm also is upbeat about the company's outlook for the second half of the year.

TST Recommends

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth and expanding profit margins.

But the team also finds weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: WDC

Image placeholder title