Brean Murray Carret Raises Seagate Technology's EPS

In a research report released this morning, Brean Murray Carret has once again increased Seagate Technology's STX EPS estimates far above the Street's. According to Brean Murray Carret, “We believe important aspects of the STX story remain fundamentally underappreciated and that the stock can appreciate 25%-30% by July. As a result, we're raising our already above CY12 Street EPS to $11.25 from $10.50 (Street at $9.48), as we see multiple EPS upside levers. That said, we could see EPS as strong as $12.00 if we embedded our reasonable upside scenarios.” Brean Murray Carret maintains its Buy rating and $35 PT on Seagate Technology, which closed yesterday at $27.35.