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STX

Seagate

$52.85

-3.89 (-6.86%)

06:12
09/20/19
09/20
06:12
09/20/19
06:12

Seagate price target raised to $40 from $37 at Barclays

Barclays analyst Tim Long upgraded Seagate Technology raised his price target to $40 from $37 after the company at its analyst day provided a long-term revenue growth target of 2%-6% and operating margin target of 13%-16%. While the revenue outlook" looks encouraging," it may prove aggressive, Long tells investors in a research note. Despite higher long-term estimates and the analyst keeps an Underweight rating on Seagate shares.

STX Seagate
$52.85

-3.89 (-6.86%)

08/07/19
LEHM
08/07/19
INITIATION
LEHM
Underweight
Seagate initiated with an Underweight at Barclays
Barclays analyst Tim Long initiated Seagate (STX) with an Underweight rating and a price target of $37. The analyst's negative view is based on the HDD market being in secular decline, Seagate having been slightly behind Western Digital (WDC) in high capacity nearline drives, and the likelihood that top-line pressure and a potential increase in research and development "could disrupt the capital return to shareholders."
08/08/19
08/08/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Apple (AAPL), Samsung (SSNLF), HP Enterprise (HPE), HP Inc. (HPQ), and Dell Technologies (DELL) initiated with an Equal Weight at Barclays. 2. Avalara (AVLR) initiated with an Outperform at William Blair. 3. BlueLinx (BXC) initiated with a Buy at B. Riley FBR. 4. Corning (GLW) initiated with an Overweight at Barclays while Seagate (STX) was initiated with an Underweight, and Western Digital (WDC) was initiated with an Equal Weight. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/10/19
KEYB
09/10/19
NO CHANGE
Target $58
KEYB
Overweight
Micron Technology price target raised to $58 from $45 at KeyBanc
KeyBanc analyst Weston Twigg raised his price target for Micron Technology (MU) to $58 from $45 while keeping an Overweight rating on the shares. The chipmaker closed Monday up 16c to $49.13. The analyst's updated memory supply model suggests that supply remains well managed as memory producers wait for a demand recovery. Twigg is also seeing signs of tightening supply in some markets as demand elasticity for NAND kicks in, and as NAND and DRAM content loading in phones, PCs, and other devices continues to grow. The analyst expects both NAND and DRAM inventories to decline in the second half of 2019. Further, NAND pricing is likely to steadily increase through the second half and DRAM pricing is likely to stabilize by the end of the year, Twigg tells investors in a research note. He cites "increasing signs of stabilization" for his price target boost on Micron. The analyst keeps Sector Weight ratings on Seagate Technology (STX), Silicon Motion Technology (SIMO) and Western Digital (WDC).
09/19/19
FBNS
09/19/19
NO CHANGE
Target $60
FBNS
Outperform
Seagate price target raised to $60 after analyst day at FBN Securities
FBN Securities analyst Shebly Seyrafi raised his price target on Seagate shares to $60 from $55 following the company's analyst day. Seagate said it expects FY20 non-GAAP EPS to grow year-over-year from $4.82 reported in FY19, which is 9% above current consensus of $4.44 for FY20, according to Seyrafi. He thinks the negative reaction during the event may be due to the company's new long-term operating model targets, including 2%-6% revenue growth, 13%-16% operating margins and shareholder return at more than 50% of free cash flow. Seyrafi believes the operating margin target, in particular, "may have unsettled some investors," but he thinks that the company is being conservative. He keeps an Outperform rating on Seagate shares, which are down 6.6% to $52.99 in afternoon trading.

TODAY'S FREE FLY STORIES

PGR

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-0.64 (-0.90%)

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WORK

Slack Technologies

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NNA

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GIL

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KSU

Kansas City Southern

$143.98

8.65 (6.39%)

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BORR

Borr Drilling

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0.53 (8.77%)

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HEP

Holly Energy Partners

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1.72 (8.09%)

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  • 30

    Oct

ORCL

Oracle

$54.72

-0.35 (-0.64%)

11:55
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Periodicals
Oracle co-CEO Mark Hurd has died, Reuters reports »

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DHT

DHT Holdings

$7.19

-0.215 (-2.90%)

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DHT Holdings put volume heavy and directionally bearish »

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  • 24

    Oct

CRM

Salesforce

$143.99

-2.18 (-1.49%)

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  • 18

    Oct

  • 16

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KO

Coca-Cola

$55.27

1.47 (2.73%)

, AXP

American Express

$118.49

-0.68 (-0.57%)

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On The Fly
Fly Intel: Wall Street's top stories at midday »

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KO

Coca-Cola

$55.27

1.47 (2.73%)

AXP

American Express

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JNJ

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M

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LB

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GPS

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DERM

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ETFC

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GIL

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TEAM

Atlassian

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11:50
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General news
Fed VC Clarida reiterated the economy is in a "good place »

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SKX

Skechers

$37.12

-0.02 (-0.05%)

11:45
10/18/19
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Options
Skechers call volume above normal and directionally bullish »

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  • 22

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ATVI

Activision Blizzard

$53.92

-1.68 (-3.02%)

, NTDOY

Nintendo

$0.00

(0.00%)

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Periodicals
Blizzard delays 'WoW' event in Taiwan amid Hong Kong protests, Polygon says »

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ATVI

Activision Blizzard

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NTDOY

Nintendo

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  • 18

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KALV

KalVista

$12.16

0.08 (0.66%)

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KalVista management to meet with Needham »

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  • 24

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W

Wayfair

$110.22

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Options
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TSLA

Tesla

$259.40

-2.565 (-0.98%)

11:32
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  • 23

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ATHM

Autohome

$84.07

-1.01 (-1.19%)

11:29
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Downgrade
Autohome rating change  »

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AMSSY

AMS AG

$0.00

(0.00%)

, OSAGY

Osram

$0.00

(0.00%)

11:26
10/18/19
10/18
11:26
10/18/19
11:26
Hot Stocks
AMS AG to launch new EUR41 per share takeover offer for Osram »

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AMSSY

AMS AG

$0.00

(0.00%)

OSAGY

Osram

$0.00

(0.00%)

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  • 22

    Oct

ENPH

Enphase Energy

$25.16

0.07 (0.28%)

11:25
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Options
Enphase Energy call volume above normal and directionally bullish »

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  • 29

    Oct

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Conference/Events
Federal Reserve Board of Governors Vice Chairman Clarida speaks on the economy »

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OSAGY

Osram

$0.00

(0.00%)

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11:20
10/18/19
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General news
FX Action: USD-JPY »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
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Technical Analysis
NASDAQ market internals summary »

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