Seagate Technology (STX) shares jumped 7.25% to $931.04 on Monday after the data‑storage firm posted fiscal Q3 earnings that beat analyst expectations.
Analyst Upgrades
Morgan Stanley lifted its price target for Seagate to $1,035, up from $767, and kept an Overweight rating. JPMorgan raised its projection to $920 from $775, also maintaining an Overweight stance. Barclays, TD Cowen and China Renaissance followed suit, moving their targets to $1,000, $850 and $983 respectively, while the consensus among 25 research houses averages a $820.63 target and a Moderate Buy rating.
Quarterly Performance
Seagate reported earnings of $4.10 per share, surpassing the Street consensus of $3.51. Revenue climbed to $3.11 billion, outpacing the forecast of $2.96 billion and representing a 44.1% increase year‑over‑year. The robust results helped lift the stock from its 52‑week low of $124.63 toward the recent high of $966