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A Quick Look at Today's Ratings for Seagate Technology(STX.US), With a Forecast Between $120 to $135

Futu News ·  Oct 23 21:00  · Ratings

On Oct 23, major Wall Street analysts update their ratings for $Seagate Technology (STX.US)$, with price targets ranging from $120 to $135.

Morgan Stanley analyst Erik Woodring maintains with a buy rating, and maintains the target price at $133.

BofA Securities analyst Wamsi Mohan maintains with a buy rating, and sets the target price at $130.

Citi analyst Asiya Merchant maintains with a buy rating, and adjusts the target price from $125 to $130.

Wells Fargo analyst Aaron Rakers maintains with a hold rating, and maintains the target price at $120.

Evercore analyst Amit Daryanani maintains with a buy rating, and adjusts the target price from $125 to $135.

Furthermore, according to the comprehensive report, the opinions of $Seagate Technology (STX.US)$'s main analysts recently are as follows:

  • Seagate's recent performance surpassed expectations, bolstered by an uptick in demand for high-capacity drives and advantageous pricing conditions. Analysts note that the company's management anticipates this strong demand to persist, supported by the rising needs in the cloud and enterprise sectors.

  • The firm maintains a positive outlook on Seagate due to secular demand trends driven by Cloud services, as well as revenue and margin recovery from previous low points. It is also noted that Seagate's gross margins are expected to improve as a result of a favorable sales mix and increased pricing.

  • Seagate's recent quarterly results exhibited significant positive performance. The industry, along with Seagate, is adopting a more disciplined approach, particularly in terms of expanding capacity only when justified by adequate returns. The possibility of a cyclical recovery could pave the way for earnings per share to exceed $12, which may contribute to the stock's positive trajectory.

Here are the latest investment ratings and price targets for $Seagate Technology (STX.US)$ from 9 analysts:

StockTodayLatestRating_nn_203287_20241023_en

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

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