Market Overview

Morgan Stanley Notes Buying Opportunity for Seagate Technology on Share Pullback

Share:
Related STX
Seagate Earns A Strong Buy From Vetr
Tech Expert Sean Udall Predicts No Major Earnings Misses, Q4 Rotation
The Vetr community has downgraded $STX to 3.5-Stars (Vetr)

Morgan Stanley analyst Katy Huberty reported that the pullback of Seagate Technology (NASDAQ: STX) shares following second quarter results presents an opportunity to add positions.

Huberty noted that TAM concerns are overdone and that the HDD build rates may be above Morgan Stanley's 135 million estimates. The analyst added that a positive Mofcom ruling may be a catalyst. Seagate Technology suggested that the ruling may come shortly after its two-year anniversary on March 8.

Morgan Stanley rates Seagate as Overweight with a $68.00 price target

Shares of Seagate Technology closed at $49.28 on Friday.

Latest Ratings for STX

DateFirmActionFromTo
Nov 2017Wells FargoReinstatesMarket Perform
Oct 2017BarclaysMaintainsUnderweight
Oct 2017Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for STX
View the Latest Analyst Ratings

Posted-In: Katy Huberty Morgan StanleyAnalyst Color Analyst Ratings

 

Related Articles (STX)

View Comments and Join the Discussion!

Partner Center