Seagate price target raised to $700 from $385 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Seagate (STX) to $700 from $385 and keeps a Buy rating on the shares. Seagate is expected to trade higher following a strong beat and raised guidance, driven by robust hyperscaler storage demand, tight HDD supply conditions, and favorable pricing trends, the analyst tells investors in a research note. Management’s visibility into FY27 and commitment to disciplined capacity expansion are reinforcing expectations for sustained peak earnings power, though longer-term risk remains around potential industry over-shipment versus underlying demand trends, the firm says.

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