Needham & Company Reiterates a 'Strong Buy' on Seagate Technology (STX); Comparatively Better Thailand Status

Needham & Company reiterates a 'Strong Buy' on Seagate Technology (NASDAQ: STX) price target raised from $19 to $22.

Needham analyst says, "Like the carriers being out at sea during Pearl Harbor, Seagate is poised to emerge from the turmoil in Thailand with an unscathed manufacturing footprint and comparatively better positioned supply base that will be a platform used to fill the supply void in the industry and capture share. Although clearly a horrible tragedy on a grand scale in both human and economic terms, the events in Thailand may turn back the clock on HDD supply/demand/pricing dynamics many years, with Seagate leading the way."

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 $12.06 yesterday.

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