BofA raised the firm’s price target on Seagate (STX) to $120 from $112 and keeps a Buy rating on the shares. Seagate reported “strong” fiscal Q3 results despite the supply shortage in the quarter, says the analyst, who adds that the results underline the notion that the HDD industry and Seagate “have more room to deliver multiple quarters of upside and we are not close to the peak of the HDD cycle.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STX:
- Seagate Technologies: Strong Financial Performance and Strategic Advancements Justify Buy Rating with $120 Target Price
- Seagate price target lowered to $105 from $120 at Wells Fargo
- Seagate Tech’s Balanced Outlook: Solid Q3 Results and Promising Guidance Amid Tariff Concerns
- Seagate Technology’s Strong Financial Performance and Promising Future Prospects Drive Buy Rating
- Seagate price target raised to $90 from $80 at Barclays