Seagate price target raised to $465 from $350 at Loop Capital

Loop Capital raised the firm’s price target on Seagate (STX) to $465 from $350 and keeps a Buy rating on the shares. The firm sees hard disk drive capacity demand moving higher in 2026 with selling price increased for higher capacity drives. The “materially accretive” economic dynamics for Seagate and Western Digital are “durable” and “remain in the beginning stages,” the analyst tells investors in a research note.