Wedbus Raises Seagate Price Target To $20

Loading...
Loading...
According to Wedbush, Seagate Technology
STX
margins are likely to improve with industry consolidation. Wedbush said that it is raising the price target to $20 from $17. “We believe that the fundamentals of HDD stocks (STX and WDC) are improving, which provides a buying opportunity for the near-term. Raising our 12 month Price Target to $20. We are maintaining our NEUTRAL rating, keeping in view the longer term impact of cannibalization of notebooks with tablets and HDDs with SSDs. Our price target is based on a PE of 9x our fiscal 2012 estimated EPS of $2.13. The multiple is based on historically lower multiples for HDD vendors compared to peers in storage systems and IT Hardware.” Seagate Technology closed yesterday at $17.93.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsComputer Storage & PeripheralsInformation TechnologyseagateWedbush
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...