Brean Murray Carret Maintains Buy, $26 Target on Seagate

Brean Murray Carret reiterates its Buy rating on Seagate

as it raises estimates ahead of the company's Tuesday earnings call. Brean Murray Carret comments, "Our new EPS estimates for Jun Q ? Sep Q / CYqw are $2.00 / $2.08 ?$8.00 - and we believe STX has a real chance to deliver $9.00+ in EPS (vs our prior "official" $1.04 / $1.25 / $4.63, although we've been writing since Jan 4 that we believe STX has the opportunity to deliver $7.00 - $8.00 in CY12 EPS). We're also officially raising our Dec Q 2011 & Mar Q 2012 EPS estimates to $1.02 & $1.88 (vs $0.66 and $0.95 prior), commensurate with STX's 1/4 revised outlook. STX closed at $20.77 a share on Friday.