Seagate price target raised to $700 from $650 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Seagate (STX) to $700 from $650 and keeps an Overweight rating on the shares. Seagate is expected to report a strong beat-and-raise, supported by sustained hyperscaler demand for Nearline HDDs and continued ASP strength driven by supply constraints and technology transitions like HAMR, the analyst tells investors in a research note. Margin expansion, tight supply, and a technology-led growth strategy underpin rising earnings estimates and a higher price target reinforcing a bullish outlook with Seagate highlighted as a top pick, the firm says.

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