UPDATE: Jefferies Starts Seagate Technology (STX) at Buy
Get Alerts STX Hot Sheet
Rating Summary:
17 Buy, 27 Hold, 4 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Jefferies initiated coverage on Seagate Technology (NASDAQ: STX) with a Buy rating and a price target of $70.00.
Analyst James Kisner comments, "We like STX shares as, like WDC, we expect the company will benefit from: 1) robust storage growth in public and private clouds; 2) growth opportunities in flash-based storage via the company’s recent acquisition of LSI’s Flash/SSD assets from Avago; 3) increasingly benign industry dynamics. We also look favorably on the Xyratex acquisition, which gives the company unique positioning to deliver custom system-level storage products to the Cloud. We are initiating with a Buy Rating and a $70 Target."
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 $57.06 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TD Cowen Resumes EQT Corp. (EQT) at Hold
- CIMC Enric Holdings Ltd. (3899:HK) (CIMEF) PT Lowered to HK$8.70 at HSBC
- Alphabet (GOOGL) PT Raised to $180 at Jefferies
Create E-mail Alert Related Categories
Analyst Comments, New CoverageRelated Entities
Jefferies & Co, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!