Morgan Stanley raised the firm’s price target on Seagate (STX) to $270 from $265 and keeps an Overweight rating on the shares. In addition to a strong Sept quarter and December quarter guidance, management confirmed HDD demand is strengthening and that AI-driven tailwinds are larger and coming faster than expected, the analyst tells investors. HDD demand is expected to outpace supply for, at least, the next four quarters, the analyst noted.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STX:
- Seagate price target raised to $275 from $250 at Citi
- Cautious Hold Rating for Seagate Tech Amid Market Overvaluation and Industry Shifts
- Seagate price target raised to $240 from $200 at Barclays
- Seagate Technology: Positioned for Growth with Strong Market Dynamics and Strategic Focus
- Seagate Technology Reports Strong Q1 2026 Results