Brean Murray Carret & Co. Maintains a 'Buy' on Seagate Technology (STX); Now Sept Quarter Feels Soft Too

July 6, 2012 7:26 AM EDT
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Price: $36.37 --0%

Rating Summary:
    8 Buy, 26 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 5 | New: 5
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Brean Murray Carret & Co. maintains a 'Buy' on Seagate Technology (NASDAQ: STX) price target of $38.00.

Analyst, Ananda Baruah, said, "All in all, STX's Sept Qtr unit guidance of flat qtr/qtr with 66M in the June Qtr is concerning (although likely a bit of conservatism), we also believe that other key parts of STX's preliminary June Qtr results and Sept Qtr guidance were better than widely anticipated - more revenue softness that we expected notwithstanding...Buybacks continue at a strong clip as STX remains committed to aggressively returning cash to shareholders through both buybacks and dividends."

For an analyst ratings summary and ratings history on Seagate Technology click here. For more ratings news on Seagate Technology click here.

Shares of Seagate Technology closed at $25.08 yesterday.

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