April 21, 2010 7:37 AM EDT
Needham & Company reiterates a 'Strong Buy' on Seagate Technology (NYSE: STX), raises PT from $36 to $40.
Needham analyst says, "The reality distortion field surrounding bear arguments on Seagate and the drives took another hit last night, with record units, better than expected margins, pricing and inventory. Similarly, guidance was also strong for June (especially gross margin) proving that industry conditions continue to be robust, and should remain so for the seasonal 2H. With the June quarter, and the trough in terms of data points, now behind the company, we encourage investors to aggressively purchase the shares." |
