Seagate price target raised to $40 from $33 at Susquehanna

Susquehanna analyst Mehdi Hosseini raised the firm’s price target on Seagate to $40 from $33 and keeps a Negative rating on the shares. The firm said they are encouraged by better than expected margin trends with OM bottoming in the 3-5% range, thus helping with limiting the quarterly EPS losses.