Needham & Company Reiterates a 'Strong Buy' on Seagate Technology (STX); Raising Numbers After Guidance Boosted on Solid Execution & Improving Industry Dynamics
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Price: $87.11 +0.67%
Rating Summary:
17 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
17 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Needham & Company reiterates a 'Strong Buy' on Seagate Technology (NASDAQ: STX) price target of $35.00.
Needham analyst says, "Looking at the valuation of STX (<3x F13), we keep hearing Pink Floyd’s “Hey, is there anybody out there?” STX continues to execute in this challenging post-deluge market, and we expect it to continue. We would also remind investors that when the market ceases to function properly with valuation, the great equalizer of private equity often steps in to right wrongs (i.e. with >$3B in cash likely aimed at buybacks, the hurdle would be much lower)."
"Increasing street high estimates (now $14.9B/$5.25 from $13.7B/$3.92 for F12, and $17.6B/$6.48 from $16.6B/$5.85 for F13 on conservative unit and margin assumptions)."
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 $16.82 yesterday.
Needham analyst says, "Looking at the valuation of STX (<3x F13), we keep hearing Pink Floyd’s “Hey, is there anybody out there?” STX continues to execute in this challenging post-deluge market, and we expect it to continue. We would also remind investors that when the market ceases to function properly with valuation, the great equalizer of private equity often steps in to right wrongs (i.e. with >$3B in cash likely aimed at buybacks, the hurdle would be much lower)."
"Increasing street high estimates (now $14.9B/$5.25 from $13.7B/$3.92 for F12, and $17.6B/$6.48 from $16.6B/$5.85 for F13 on conservative unit and margin assumptions)."
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 $16.82 yesterday.
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