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Wedbush raises Seagate target to $1,000, reiterates Overweight ahead of fiscal Q4 results

AI Market Summary
Wedbush raised Seagate's (STX) target to 1,000 and reiterated an "Overweight" rating ahead of upcoming Q4 results, with consensus EPS expected to more than double year over year. The call cites margin-driven upside potential, improving mix, and incremental pricing. Longer-term, HAMR HDD adoption and multi-year hyperscaler agreements tied to AI infrastructure are described as tightening supply-demand and supporting pricing power, with capacity largely booked through 2027.
Impact level
● Medium
Affected assets
STX/USDT-4.74%
AI Insight · STX/USDTAI Insight
▲ Bullish
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Wedbush Securities analyst Matt Bryson raised his price target on Seagate Technology (STX) to $1,000 and kept an “Overweight” rating. The company is set to report fiscal Q4 results next week, with consensus calling for $4.89 in earnings per share, more than double the year-ago quarter. Bryson said Seagate could again top expectations, citing margins, slight PX increases and an improved product mix.
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