Seagate price target raised to $280 from $245 at Mizuho

Mizuho analyst Vijay Rakesh raised the firm’s price target on Seagate (STX) to $280 from $245 and keeps an Outperform rating on the shares. The firm upped price targets in the storage group saying artificial intelligence demand continues to accelerate due to expanding multimodal models and longer context windows. NAND spot pricing is up 7% week-over-week and is expected to rise 11%-13% quarter-over-quarter through the first half of 2026, with suppliers prioritizing technology transitions over capacity expansions, the analyst tells investors in a research note.