Seagate price target lowered to $54 from $69 at Credit Suisse

Credit Suisse analyst Shannon Cross lowered the firm’s price target on Seagate to $54 from $69 and keeps a Neutral rating on the shares. Seagate reported weaker than expected Q3 results, and the firm’s biggest concern now is liquidity as the company is looking at sale/leasebacks for manufacturing facilities in order to cover near term debt maturities, the analyst tells investors in a research note.