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

UBS analyst Timothy Arcuri raised the firm’s price target on Seagate to $65 from $55 and keeps a Neutral rating on the shares. While Seagate is guiding shipment volumes up for Q1, led by the nearline segment, recovery is still apt to remain choppy though as there is still a fairly wide disparity of demand pull from the company’s major cloud customers, the analyst tells investors in a research note.