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Fly News Breaks for September 23, 2019
STX
Sep 23, 2019 | 07:14 EDT
Susquehanna analyst Mehdi Hosseini lowered his price target on Seagate to $32 from $34 following its Analyst Day. He increased his near-term estimates to account for the change in its depreciation schedule and also accounting for good traction with 16TB shipments. However, looking into 2020 and beyond he expects decelerating revenue trends driven by declining TAM outside of high capacity Nearline, particularly Mission Critical. Hosseini maintained his Negative rating on Seagate shares.
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