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Technology Stocks : Seagate Technology

STX 275.77

+10.1%

4:00 PM EST

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From: Moonray	5/6/2010 10:11:19 AM
	of 7841

Seagate: S&P Upgrades To Buy MAY 5, 2010, 3:12 PM ET - By Eric Savitz Standard & Poor’s analyst Jim Yin this afternoon raised his rating on Seagate (STX) to Buy from Hold, noting that the company’s shares have declined 8% since the company posted better-than-expected March quarter results two weeks ago. “Although we are concerned about declining gross margins as the industry adds capacity, we think margins will remain above their historical average due to strong end-consumer demand,” he writes.”We estimate that PC unit sales will rise about 17% this year.” He maintains a $24 target price, and notes that the stock trades at 7.6x his FY 2011 EPS estimate. STX is down 66 cents, or 3.5%, to $18.24. o~~~ O

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