UPDATE: JP Morgan Reduces PT to $25 on Seagate Technology on Reduced Guidance - Seagate Tech Hldgs (NASDAQ:STX)

27% profits every 20 days?

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JP Morgan reiterated its Neutral rating on Seagate Technology (NASDAQ: STX) and reduced its price target from $26 to $25 as it believes latest estimate cuts will hurt shares. JP Morgan noted, "We expect shares of Neutral-rated Seagate to lose investor support in the near term. Seagate's guidance could be a sign of increased conservatism, due to the macro uncertainty or the return of a stronger competitor in WD, or both factors. In any event, we think that shares of Seagate are likely to lose some glow as consensus estimates head lower."Seagate Technology closed at $30.43 on Monday.

27% profits every 20 days?

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