Brean Capital analyst Ananda Baruah believes that Seagate will be compelled to fundamentally address its cost structure after recognizing how the softer PC business has impacted gross margins. Baruah thinks the company can adjust its cost structure and take capacity off-line and keeps a Buy rating on shares, and thinks the company's dividend yield provides a cushion, though he lowered his price target on Seagate to $50 from $65 per share.
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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Notable gainers among liquid option names this morning include Seagate (STX) $96.53 +8.33, McCormick (MKC) $75.66 +5.72, Constellation Energy (CEG) $198.70 +11.44, Tesla (TSLA) $182.50 +9.87, and Western Digital (WDC) $68.30 +3.31.