TECH - Seagate Is Set for Success Analyst Highlights Demand and Pricing Strength | Benzinga
Evercore ISI analyst Amit Daryanani reiterated an Outperform on Seagate Technology Holdings Plc (NASDAQ:STX) with a price target of $110.
While early in the quarter, Seagate is positioned to print upside for March-quarter and likely guide June and beyond ahead of street expectations, as per the analyst.
The strength here is a reflection of broad-based demand that could also enable upside for other HDD players, he said.
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The analyst highlighted that cyclical recovery in the cloud continues to gain traction and shows sustained momentum.
He expects the recovery to be broader than just US Hyperscalers, as there are initial signs of demand improvement ...