BofA analyst Wamsi Mohan raised the firm’s price target on Seagate (STX) to $450 from $400 and keeps a Buy rating on the shares after the company beat fiscal Q2 expectations and guided to Q3 revenue and EPS above BofA and Street estimates. The firm remains constructive on shares as it sees strong AI and datacenter demand, tight supply-demand driving upside to pricing, strong incremental margins and well managed expenses driving “material positive estimate revisions,” the analyst tells investors.
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