Seagate price target raised to $65 from $55 at Wells Fargo

Wells Fargo analyst Aaron Rakers raised the firm’s price target on Seagate to $65 from $55 and keeps an Equal Weight rating on the shares. While Seagate’s results/outlook reflects ongoing weak HDD dynamics, the firm was "admittedly too negative." Wells stays on the sidelines but believes positive move in shares is justified as sees increased evidence in return to over $5 EPS.