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STX

Seagate

$40.68

0.09 (0.22%)

08:46
01/14/19
01/14
08:46
01/14/19
08:46

Seagate price target cut to $33 from $40 at Evercore ISI

Evercore ISI analyst C.J. Muse cut his price target for Seagate to $33 from $40 and maintained an Underperform rating, telling investors in a research note that he sees topline and gross margin headwinds on worsening client HDD trends and wear nearline demand. Longer term, the analyst says he is "worried" about price competitive QLC NAND displacing HDDs in nearline, especially for cold storage-type workloads, which he says could emerge exciting CY19.

  • 04

    Feb

  • 25

    Feb

STX Seagate
$40.68

0.09 (0.22%)

12/13/18
DBAB
12/13/18
INITIATION
Target $42
DBAB
Hold
Seagate resumed with a Hold at Deutsche Bank
Deutsche Bank analyst Sidney Ho resumed coverage of Seagate Technology with a Hold rating and $42 price target. The analyst sees "cloudy" near-term fundamentals for the hard disk drive industry.
12/13/18
DBAB
12/13/18
INITIATION
DBAB
Seagate, Western Digital resumed with Hold ratings at Deutsche Bank
Deutsche Bank analyst Sidney Ho resumed coverage of both Seagate Technology (STX) and Western Digital (WDC) with Hold ratings, and price targets of $42 and $45, respectively. The analyst said in a note partially titled "Cloudy near term, Cloud is also the future" that while hard disk drive, or HDD, is a mature industry, several interesting trends have emerged. First, nearline HDDs that are suited for mass storage in cloud data centers could drive 60%+ of the industry revenue by 2022 with above industry average margins. Second, technology innovations in the next 5-10 years could continue to drive cost improvements in the HDD industry. Third, while declining NAND flash memory prices have led to rising adoption of solid state drives, or SSDs, the cannibalization focuses on PCs and mission-critical enterprise applications, while nearline HDDs appear to be more immune. The analyst concluded that "while HDD revenues appear to be on a slow decline, changing mix will likely drive better profitability."
12/18/18
RBCM
12/18/18
NO CHANGE
Target $34
RBCM
Outperform
AMD addition to Nasdaq-100 a 'small near-term positive', says RBC Capital
RBC Capital analyst Mitch Steves notes the addition of AMD (AMD) to the Nasdaq-100 index announced late on Friday, which also contained the inclusion of lululemon (LULU), NetApp (NTAP), United Continental Holdings (UAL), VeriSign (VRSN) and Willis Towers Watson (WLTW) and the subtraction of Express Scripts Holding (ESRX), Hologic (HOLX), Qurate Retail (QRTEA), Shire (SHPG), Seagate Technology (STX) and Vodafone Plc (VOD). The analyst believes that the change - which will become effective before the market open on December 24th - could act as a "small near-term positive" for AMD shares, even though it does not change its fundamentals. Longer term, the analyst keeps his Outperform rating and $34 price target on AMD, but warns that the company is faced with a crypto currency downdraft in the Gaming segment and that he is also cautious on the hyperscale spending trends next year which he estimates in the low single digits. Steves adds that the notable investor debate is also taking place around the AMD server average selling prices, which he sees coming in around $5,400 - the higher end of the more bullish forecasts of $5K-$6K vs. the bears' estimate around $4K.
12/24/18
LOOP
12/24/18
NO CHANGE
Target $60
LOOP
Buy
Seagate showing resiliency amid Hyperscale investment pause, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $60 price target on Seagate, saying that the company is showing resiliency amid a Hyperscale investment pause as its fundamentals remain "relatively intact". The analyst adds that there is potential for a "faster restart" in the investment cycle during the March quarter and that the "demand dynamics are closer to expectations than may be obvious".

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BNTGY

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SoftBank; also use SFTBF

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MET

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AMZN

Amazon.com

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NTDOY

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T

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