NEW YORK (TheStreet) -- Shares of data storage company Western Digital (WDC) ended Thursday's trading day up 5%, making it TheStreet's "Move of the Day."

Goldman Sachs upgraded the stock to "buy" from "neutral" and raised its price target to $122 from $106.

'We believe concerns over the impact of weak PCs on Western Digital are overdone," wrote analyst Bill Shope in a report.

The analysis from Goldman suggested shares have significant room for growth.

"We believe the PC-related weakness in the share price seen thus far in 2015 represents an attractive entry point into the name," Shope added. "Indeed, we believe the current valuation fails to fully recognize that the company's business model is benefiting from non-PC Exabyte growth."

The report also said Western Digital has less debt than its competitors.

"For Western Digital specifically, we believe that the company is underlevered, particularly compared to competitor Seagate, and believe that this creates several options to boost shareholder value," he added.

TheStreet's Jim Cramer, portfolio manager of Action Alerts PLUS said on CNBC Thursday morning that shares of Seagate Technology  (STX) and Western Digital "are going to fly" following the upgrade by Goldman.

"These stocks are going to fly," Cramer said. "One, because they're heavily shorted, cause people say PCs are going away, and this is the disk drives that go into PCs. But secondly, Goldman is saying they're too cheap. They could be leveraged buyouts."

Meanwhile the analysts at RBC Capital Markets maintain an "outperform" rating on Western Digital, while Stifel and Jefferies hold a "buy" rating on the stock.

Shares of Western Digital fell 10.4% since the start of the year, while Seagate's stock dropped roughly 15% year-to-date. 

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