Susquehanna Remains Sidelined on Seagate Technology (STX) After Adjusting Estimates

August 19, 2016 7:11 AM EDT
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Price: $36.47 +0.36%

Rating Summary:
    8 Buy, 26 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Susquehanna reiterated a Neutral rating on Seagate Technology (NASDAQ: STX), and raised the price target to $32.00 (from $30.00), after adjusting estimates to reflect a more optimistic outlook. STX raised FY17 and FY18 GM estimates by 100 bps to 27/28.

Analyst Mehdi Hosseini commented, "We are revising our STX EPS estimates upward to account for a more favorable expansion of GMs beyond the September quarter, as well as our expectation of more leeway on opex reductions."

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 $32.07 yesterday.

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