Brean Murray Carret & Co. maintains a 'Buy' on Seagate Technology (STX); Surprisingly Strong Metal Costs Offsetting Very Favorable Pricing

Brean Murray Carret & Co. maintains a 'Buy' on Seagate Technology (NASDAQ: STX), PT $22.

Brean analyst says, "We believe Western Digital (NYSE: WDC) may see a more 'Muted' impact tonight than STX, as we believe it was able to raise drive prices to its OEM's during the Jun Q...Our CY11 STX EPS moves to $1.30 from $2.00 - Street was at $1.51 heading into last night's call, and we believe without the 200bp metals impact Street would have gone up to at least $1.60. No change to our $3.00 calendar 2012 base case estimate..."

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 $16.99 yesterday.

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