Cantor Fitzgerald Boosts Seagate Price Target to $500, Citing Margin Momentum
Cantor Fitzgerald raised its price target on Seagate Technology to $500 from $400 and kept an Overweight rating after the company posted stronger-than-expected quarterly results. The firm pointed to gross-margin expansion, pricing strength in a tight hard-disk drive market, higher-priced HAMR products and roughly 10% annual cost reductions as the p…