On Oct 24, major Wall Street analysts update their ratings for $Seagate Technology (STX.US)$, with price targets ranging from $120 to $150.
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 maintains the target price at $130.
Citi analyst Asiya Merchant maintains with a buy rating, and adjusts the target price from $125 to $130.
Evercore analyst Amit Daryanani maintains with a buy rating, and adjusts the target price from $125 to $135.
TD Cowen analyst Krish Sankar maintains with a buy rating, and maintains the target price at $135.
Furthermore, according to the comprehensive report, the opinions of $Seagate Technology (STX.US)$'s main analysts recently are as follows:
Seagate's performance surpassed expectations due to a rising demand for high-capacity drives and advantageous pricing. The expectation is that this demand strength will persist, supported by enhancements in cloud and enterprise demand.
The positive outlook on Seagate's shares is attributed to encouraging secular demand trends from the Cloud sector, as well as the company's anticipated revenue and margin recovery from previous low points. Continued benefits to Seagate's gross margins are expected due to a more favorable sales mix and improved pricing.
The company reported notable positive results for the September-end quarter. It was observed that Seagate, along with the industry, is practicing increased discipline, particularly regarding the addition of incremental capacity without sufficient returns. The anticipation of a cyclical recovery is believed to pave the way for substantial earnings per share, which could potentially drive the stock's performance positively.
Here are the latest investment ratings and price targets for $Seagate Technology (STX.US)$ from 8 analysts:
Note:
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