Morgan Stanley Raises Seagate Price Target to $582, Signaling 35% Upside
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy STX?
Source: stocktwits
- Price Target Increase: Morgan Stanley raised Seagate's price target from $468 to $582, indicating a 35% upside potential, which reflects confidence in Seagate's market positioning and further solidifies its leadership in the hard disk drive market.
- Strong Market Demand: Analyst Erik Woodring highlighted a persistent rise in hard disk drive demand, forecasting potential shortages extending through 2028, particularly driven by robust demand from hyperscale data center operators, indicating a broader market recovery.
- Technological Innovation: Seagate's newly launched Mozaic 4+ system, built on heat-assisted magnetic recording technology, supports capacities of up to 44 terabytes, aimed at meeting surging demand driven by artificial intelligence and large-scale cloud computing, significantly enhancing data center storage efficiency.
- Financial Outlook: Seagate projects fiscal Q3 2026 revenue of approximately $2.90 billion, with a potential variance of $100 million, and anticipates adjusted earnings per share of around $3.40, subject to a fluctuation of $0.20, showcasing strong performance in a rapidly growing market.
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Analyst Views on STX
Wall Street analysts forecast STX stock price to fall
18 Analyst Rating
14 Buy
3 Hold
1 Sell
Moderate Buy
Current: 468.720
Low
150.00
Averages
310.39
High
465.00
Current: 468.720
Low
150.00
Averages
310.39
High
465.00
About STX
Seagate Technology Holdings plc provides mass-data storage infrastructure solution. The Company’s principal products are hard disk drives, commonly referred to as disk drives, hard drives (HDDs). In addition to HDDs, the Company produces a range of data storage products, including solid state drives (SSDs), solid state hybrid drives, storage subsystems, as well as a scalable edge-to-cloud mass data platform. Its HDD products are designed for mass capacity storage and legacy markets. Mass capacity storage involves use cases, such as hyperscale data centers and public clouds, as well as emerging use cases. The Company’s HDD and SSD product portfolio includes Serial Advanced Technology Attachment, Serial Attached SCSI and Non-Volatile Memory Express based designs to support a variety of mass capacity and legacy applications. Its systems portfolio includes storage subsystems for enterprises, cloud service providers, scale-out storage servers and original equipment manufacturers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Declining Bond Yields: The 10-year US Treasury yield dropped to a three-week low of 4.228%, as easing inflation worries are expected to influence future monetary policy, particularly ahead of the upcoming FOMC meeting.
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See More
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- Shift in Market Sentiment: Trump's retreat from his hardline threats before the deadline indicates a more conciliatory U.S. stance in diplomatic negotiations, which may influence investor risk appetite and drive the market towards higher valuation levels.
See More
