Seagate price target raised to $110 from $105 at Loop Capital

Loop Capital raised the firm’s price target on Seagate to $110 from $105 and keeps a Buy rating on the shares as part of a broader research note on Technology Hardware names. According to the firm’s Supply Chain study, the company is starting to have the ability to increase normalized average sales prices on select customers, and as current conditions persist through the year this will migrate to additional customers, the analyst tells investors in a research note. The firm adds that gross margins could benefit by 5%-10% to the company’s traditional 30%+ gross margin model.