Analysts raise STX targets citing robust cloud and enterprise storage demand, improving supply management, and long-term growth prospects.
Evercore ISI increased its price target for Seagate Technology Holdings plc (NASDAQ:STX) to $1,000 from $750, maintaining an Outperform rating. The firm highlighted efficient supply management, technological advancements, and accelerating storage demand in cloud and enterprise markets as key growth drivers.
Mizuho previously raised its STX target to $875 from $700 on May 6, reinforcing confidence in the company’s earnings potential. Both firms noted favorable supply-demand conditions and improving industry fundamentals supporting Seagate’s long-term outlook.
Seagate remains a critical player in data storage, supplying solutions for AI-driven workloads and cloud computing. The company’s five-year EPS forecast stands at 69.11%, reflecting optimism in its growth trajectory.