Seagate Technology (STX) PT Raised to $1,000 at TD Cowen

TD Cowen analyst Krish Sankar raised the price target on Seagate Technology (NASDAQ: STX) to $1,000.00 (from $850.00) while maintaining a Buy rating.

The analyst commented: "With the stock being down 30% from peak and guidance exceeding SepQ buyside bogey, we do see favorable risk reward despite the AI macro debate today. While we do think positive earnings revisions for STX will be less acute going forward, we think HDDs is one of the few areas with lower double ordering risk and supply discipline. Also, STX confidence in longer term demand seems to have improved."

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