Evercore ISI raised the firm’s price target on Seagate (STX) to $550 from $450 and keeps an Outperform rating on the shares. Hard disk drives are “back in the spotlight as the simplest, most efficient play on the structural memory shift,” with the sector now positioned for multi-year 20%-plus growth in sales, earnings and free cash flow, the analyst tells investors.
Claim 55% Off TipRanks
Trade STX with leveragePublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STX:
- Seagate (STX) vs. Western Digital (WDC): Morgan Stanley Picks Top IT Hardware Stock
- MU vs. STX vs. MRVL: Which ‘Strong Buy’ AI Infrastructure Stock Can Deliver the Best Upside?
- Midday Fly By: Neurocrine to acquire Soleno, Oracle hires new CFO
- Early notable gainers among liquid option names on April 6th
- Seagate price target raised to $582, moved to Top Pick at Morgan Stanley