TD Cowen raised the firm’s price target on Seagate to $85 from $78 and keeps an Outperform rating on the shares. The firm said there was a noticeable tone change regarding HAMR and confidence in gross margin accretion which is a positive. The technology seems to be resonating well with customers as the company sees opportunity for 1M units in C1H24, much earlier than consensus expectations.
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Read More on STX:
- Seagate price target raised to $80 from $67 at BofA
- Seagate price target raised to $70 from $66 at Mizuho
- Seagate upgraded to Hold on storage recovery at Summit Insights
- Seagate upgraded to Hold from Sell at Summit Insights
- Seagate sees Q2 EPS (10c) plus/minus 20c, consensus (1c)
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