FBN Securities analyst Shebly Seyrafi noted that Seagate reported a mixed Q3 and gave Q4 guidance that was below consensus, but he still feels further EPS growth should be strong given the potential for operating margin expansion and expectations for cloud service providers to resume spending in the second half of the year. Seyrafi lowered his price target on Seagate shares to $50 from $55 but maintains an Outperform rating on the stock.
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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.