UPDATE: Brean Murray Carret Raises Seagate Technology's PT

According to a research report published earlier today, Brean Murray Carret has increased Seagate Technology's STX PT from $35 to $38. In the report, Sterne Agee commented, “We're raising our target price to $38 from $35, and our CY12 EPS to $11.90 from $11.25, and we see ongoing upside potential from GM related to COGS efficiencies and potentially ASP/mis. We're leaving our CY13 EPS of $6.25 unchanged for now.” Brean Murray Carret maintains its Buy rating on Seagate Technology, which is currently trading at $29.37.