Morgan Stanley analyst Erik Woodring raised the price target on Seagate Technology (NASDAQ: STX) to $1,187.00 (from $1,035.00) while maintaining a Overweight rating.

The analyst comments "As expected, pricing is the key factor driving better than expected revenue, margins, EPS and FCF in June/Sept, with more pricing upside to come. Demand visibility/duration is also improving, and we see several qtrs of accelerating rev growth ahead. We're buying any rotation-based/factor weakness."