Seagate price target raised to $250 from $200 at Rosenblatt

Rosenblatt analyst Kevin Cassidy raised the firm’s price target on Seagate (STX) to $250 from $200 and keeps a Buy rating on the shares. The firm says the recent announcements of artificial intelligence data center build-outs has convinced it demand for hard disk drives will outstrip supply at least through fiscal 2027. Seagate will benefit with heat-assisted magnetic recording-based drives ramping into production, allowing for accelerated aerial density, price increases and margin expansion, the analyst tells investors in a research note.