Seagate price target raised to $130 from $124 at BofA

BofA raised the firm’s price target on Seagate (STX) to $130 from $124 and keeps a Buy rating on the shares. The firm, whose FY25 revenue and EPS estimates move to $9.0B and $7.49 from $9.1B and $7.06, respectively, following the company’s quarterly report, argues that the HDD industry and Seagate “have more room to deliver multiple quarters of upside and we are not close to the peak of the HDD cycle.”