Goldman Sachs Lifts Price Target on Seagate Technology (STX)

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Goldman Sachs boosted estimates and its price target on Neutral-rated Seagate Technology (NASDAQ: STX) from $26 to $29 following Q3 results but is keeping its Neutral rating. The firm notes solid execution and resilient price premiums drive upside.

The firm now forecast FY2013 and FY2014 revenues of $18.40 billion and $15.28
billion from $17.78 billion and $15.26 billion prior. FY2013 and FY2014 EPS estimates also go to $6.86 and $3.46 from $4.56 and $3.38.

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 $27.89 yesterday, with a 52 week range of $9.05-$29.00.

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