Seagate price target raised to $350 from $200 at Loop Capital

Loop Capital raised the firm’s price target on Seagate (STX) to $350 from $200 and keeps a Buy rating on the shares. The firm contends that the materially accretive economic dynamics are durable and remain in the beginning stages, the analyst tells investors in a research note. The stock has also “cracked open” the earnings multiple re-rating conversation while the HDD economic accretion is still accelerating, Loop added.