Seagate price target raised to $72 from $69 at Morgan Stanley

Morgan Stanley analyst Erik Woodring raised the firm’s price target on Seagate to $72 from $69 and keeps an Overweight rating on the shares after the company "handily beat" the firm’s below-consensus December quarter expectations. Management guided to a March quarter revenue rebound in line with the firm’s forecast, said Morgan Stanley, which believes Seagate is in the early stages of a cyclical recovery.