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Seagate price target raised to $165 from $128 at Benchmark

Benchmark raised the firm’s price target on Seagate (STX) to $165 from $128 and keeps a Buy rating on the shares. Seagate posted upside for the June quarter, driven by strong global cloud demand, the analyst tells investors. However, Seagate guided flattish for the September quarter, though it expects year-over-year growth in FY26, notes the analyst, who projects non-GAAP earnings to increase by 27.5% on sales of $10.7B in FY26.

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