Needham & Company reiterates a 'Strong Buy' Seagate Technology (STX); Aggressively Accumulate Shares Today
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Price: $973.44 +5.65%
Rating Summary:
30 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
30 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Strong Buy' Seagate Technology (NASDAQ: STX) price target of $35.00.
Needham analyst says, "The flooding in Thailand has brought about a disaster of significant human and economic proportions, yet the US media
AND the Street seem to be continually assuming all is well and on the mend. The 2nd positive pre from STX this quarter is indicative of the magnitude of the shortages and STX’s unique position. We continue to expect extraordinary EPS power at STX in F12/F13, even assuming WD’s hard-fought recovery mid-next year. Beyond F13, the benefits of consolidation should set the stage for STX to post normalized EPS of $3-3.50."
Needham raises FY12 EPS estimate from $3.50 to $3.92 and FY13 from $5.84 to $5.85.
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 $15.99 yesterday.
Needham analyst says, "The flooding in Thailand has brought about a disaster of significant human and economic proportions, yet the US media
AND the Street seem to be continually assuming all is well and on the mend. The 2nd positive pre from STX this quarter is indicative of the magnitude of the shortages and STX’s unique position. We continue to expect extraordinary EPS power at STX in F12/F13, even assuming WD’s hard-fought recovery mid-next year. Beyond F13, the benefits of consolidation should set the stage for STX to post normalized EPS of $3-3.50."
Needham raises FY12 EPS estimate from $3.50 to $3.92 and FY13 from $5.84 to $5.85.
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 $15.99 yesterday.
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