Auriga Reiterates a 'Buy' on Seagate Technology (STX); Raising Estimates After Latest Checks Suggest Potential for Unit and Pricing Upside

Auriga reiterates a 'Buy' on Seagate Technology (NASDAQ: STX), new price target $29.

Auriga analyst says, "With higher units and margins now expected, we are increasing our June quarter revenue to $2.75Bn from $2.71Bn (consensus at $2.69Bn), and increasing our June quarter pro-forma EPS estimate to $0.32 from $0.26 (comparable consensus at $0.27). We believe further upside could materialize if Seagate were to ship product ahead of demand to ease potential for second half supply tightness."

For more ratings news on Seagate Technology click here and for the rating history of Seagate Technology click here.

Shares of Seagate Technology closed at $14.37 yesterday.

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