Wedbush Raises Price Target on Seagate Stock Amid Strong Earnings Outlook
On July 27, Wedbush Securities analyst Matt Bryson raised his price target for Seagate Technology (STX) to $1,000 per share from its current level. The firm maintains an 'Overweight' rating and anticipates strong performance ahead of the company's Q4 earnings report due next week. Bryson expects Seagate’s upcoming results will exceed consensus estimates driven by margin improvements and pricing increases. He also highlighted that hyperscalers are increasing demand for storage, particularly HAMR drives used in AI infrastructure development, which could lead to long-term agreements (LTAs) boosting profitability through 2027. The move reflects growing confidence among analysts as Seagate’s stock has already surged nearly threefold this year. The current consensus rating on STX is 'Strong Buy' with a mean price target of $1,020.
Tickers: $STX
Topics: Earnings Outlook Seagate Technology Stock Analysis Wedbush Securities