Seagate price target raised to $100 from $70 at Mizuho

Mizuho raised the firm’s price target on Seagate to $100 from $70 and keeps a Buy rating on the shares. The firm gave its 2024 outlook across semis and automotive technologies, saying headwinds will persist with anemic global demand and a China/Europe slowdown, though inventories in PC, memory, and handset are normalizing. For 2024, the analyst sees memory and wafer fab equipment set up well as inventory and supply corrections are now mostly behind.