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Fly News Breaks for August 2, 2016
STX
Aug 2, 2016 | 15:05 EDT
Needham analyst Richard Kugele raised his price target for Seagate to $39 from $33 following the company's "strong" Q4 results and guidance. The analyst believes investors should capitalize on any short term noise in the stock and notes he expects "better times" ahead driven by cloud. Kugele reiterates a Buy rating on the stock. In afternoon trading, shares of Seagate have dropped about 6% to $30.55.
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