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STX

Seagate

$56.29

-0.33 (-0.58%)

16:10
04/09/18
04/09
16:10
04/09/18
16:10

Seagate upgraded to Overweight from Equal Weight at Morgan Stanley

  • 01

    May

  • 07

    Jun

STX Seagate
$56.29

-0.33 (-0.58%)

03/22/18
LOOP
03/22/18
NO CHANGE
Target $70
LOOP
Buy
Seagate price target raised to $70 from $65 at Loop Capital
Loop Capital analyst Ananda Baruah raised the price target on Seagate to $70, saying the company's gross margins for the March quarter may be tracking to the upside and shipments of its cloud drives may exceed expectations by up to 1M units. Baruah adds that Seagate remains "capacity-constrained" in terms of high-capacity drives, with stronger early demand for 12TB drives than expected. The analyst keeps his Buy rating, noting that consensus for Seagate's "structural gross margins" likely undervalues the real Cloud demand, while the initial NAND memory supply may expand in the second half of this year.
03/27/18
LEHM
03/27/18
NO CHANGE
Target $120
LEHM
Overweight
Barclays says Western Digital, Seagate could be facing 'perfect storm'
Barclays analyst Mark Moskowitz raised his price target for Overweight-rated Western Digital (WDC) to $120 from $110 and for Underweight-rated Seagate Technology (STX) to $55 from $45 saying it "could be a perfect storm" for hard-disk-drives. Better demand and mix dovetail with tight supply, Moskowitz tells investors in a research note on the IT Hardware space. The analyst says that while he missed the year-to-date rally in Seagate, his new price target implies the stock largely has adjusted for the better end market conditions. He sees additional upside in Western Digital now that the Toshiba saga is in the rearview mirror and the company's recent refinancing provides flexibility to resume its share buyback.
04/02/18
CRSS
04/02/18
UPGRADE
CRSS
Buy
Seagate upgraded to Buy from Hold at Cross Research
04/02/18
RBCM
04/02/18
NO CHANGE
Target $62
RBCM
Sector Perform
Seagate price target raised to $62 from $55 at RBC Capital
RBC Capital analyst Amit Daryanani raised his price target on Seagate to $62 and also raised his FY18 EPS view to $5.21 from $4.89. The analyst contends that the company stands to benefit from an environment of rising demand, improved mix, and discipline in operating expenses, adding that the strength discussed by the company after Q2 continued in Q3 and will persist into Q4, with "robust revenues driven by better underlying HDD unit trends". Daryanani adds that gross margins could see an upside of up to 100bps amid a richer mix and improved utilization rates. The analyst keeps his Sector Perform rating on Seagate, opting to "await further clarity on the diverging demand trends of the possible rebound in consumer notebooks versus notebook cannibalization from flash memory-equipped tablets".

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