Morgan Stanley upgraded Seagate Technology's stock rating to Overweight Buy, raising its price target from $73 to $115.
Morgan Stanley upgraded Seagate Technology's (STX) stock rating to Overweight Buy from Equal Weight, boosting the price target from $73 to $115. The analysts expect Seagate's long-term gross margin range to be 32-35% and that Gen AI will be a long-term tailwind for storage, raising their FY26-27 HDD exabyte forecast by 4%. Seagate's shares have risen 9.9% following the upgrade.
March 26, 2024
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