** Shares of data storage products maker Western Digital WDC.O rise 3% to $48.00 premarket

** WDC says will repurchase shares worth $2 billion

** Repurchase authorization is effective immediately

** "Program underscores our strong confidence in Western Digital's future, the depth of our product portfolio, and the long-term value we see in our business" - CEO Irving Tan

** Analysts' average rating on the stock is "buy", their median PT is $58.0 - LSEG

** WDC up ~3% YTD

(Reporting by Arsheeya Bajwa in Bengaluru)

((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))