Seagate Price Target Soars to $700 at BofA and Cantor Fitzgerald: Is the HDD Boom Going Vertical?

Two major Wall Street firms independently raised Seagate Technology's price target to $700, citing structural tightness in the hard disk drive market and the ramp of next-generation HAMR storage. The upgrade reflects improved supply-demand dynamics and confidence in Seagate's technology transition. The news is constructive for STX and could support the shares, though it is still primarily analyst-driven rather than a company-reported fundamental update.

Analysis

Two major Wall Street firms independently raised Seagate Technology's price target to $700, citing structural tightness in the hard disk drive market and the ramp of next-generation HAMR storage. The upgrade reflects improved supply-demand dynamics and confidence in Seagate's technology transition. The news is constructive for STX and could support the shares, though it is still primarily analyst-driven rather than a company-reported fundamental update.