Seagate price target raised to $105 from $95 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Seagate (STX) to $105 from $95 and keeps an Equal Weight rating on the shares. The company’s March revenue came in lighter than expected, but margins beat significantly on high-capacity mix with commentary pointing to quarter-over-quarter growth for the remainder of the year, the analyst tells investors in a research note. The firm says the up to $200M impact from equipment not spinning up quickly enough won’t come back in June but it sounds like the company will push up against 160EB capacity point in the second half of the year.