Seagate price target lowered to $80 from $105 at Barclays

Barclays analyst Tom O’Malley lowered the firm’s price target on Seagate (STX) to $80 from $105 and keeps an Equal Weight rating on the shares. The firm updated semiconductor and semiconductor capital equipment models to reflect tariffs and the trade war ahead of Q1 earnings. The analyst reduced target multiples on China and consumer risk.