Seagate reduced revenue outlook at analyst day, says FBN Securities FBN Securities said Seagate at today's analyst day lowered its Q1 revenue outlook to 5%-7% lower than its prior target of greater than $4B. However, FBN believes the Street expected the reduction after Western Digital's (WDC) guidance, and points out Seagate is more optimistic than Western Digital about long-term HDD growth. FBN keeps an Outperform rating on Seagate.
News For STX;WDC From The Last 14 Days
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Seagate and Western Digital price targets raised at Brean Capital Brean Capital raised its price targets on both Seagate (STX) and Western Digital (WDC) citing free cash flow and gross margin stability. The firm favors Western Digital based on valuation and potential for greater incremental catalysts and raised its price target to $85 from $65. Seagate price target was raised to $54 from $43. Both are Buy rated.
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