Seagate price target raised to $600 from $525 at JPMorgan

JPMorgan raised the firm’s price target on Seagate (STX) to $600 from $525 and keeps an Overweight rating on the shares. The firm adjusted ratings and targets in the hardware and networking group as part of a Q1 preview. JPMorgan expects AI infrastructure investments across server, switches, copper interconnects and optical to drive upside to AI-levered suppliers in Q1. JPMorgan downgraded four names and opened “positive catalyst watches'” on CDW and Seagate.

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