Seagate price target raised to $119 from $99 at Northland

Northland raised the firm’s price target on Seagate to $119 from $99 and keeps an Outperform rating on the shares. The company reported a strong quarter and provided strong guidance, the analyst tells investors in a research note. The firm says Seagate’s demand environment is improving while its build-to-order model and richer mix of mass capacity drives are driving gross margin expansion. It increased estimates post the earnings report.