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:
Note:
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