Seagate price target raised to $215 from $170 at BofA

BofA analyst Wamsi Mohan raised the firm’s price target on Seagate (STX) to $215 from $170 and keeps a Buy rating on the shares. The firm raised its calendar year 2025 hard disk drive exabyte shipment forecast to 1,602 exabytes, or up 28% year-over-year, from 1,575 exabytes, or 26% growth, and sees room for further upside as demand continues to outpace supply as HDD industry supply remains tight despite double digit percentage increases in total capacity from Seagate and Western Digital (WDC) so far during this year, the analyst tells investors.