Seagate price target raised to $65 from $55 at Susquehanna

Susquehanna analyst Mehdi Hosseini raised the firm’s price target on Seagate to $65 from $55 and keeps a Negative rating on the shares. The firm said all in all, the cycle recovery is certainly underway, though consistent with their thesis, the company’s EPS power looking forward is expected to be well below prior cycles due to lower EB shipments, all while the ramp and contribution from HAMR continues to be pushed out.