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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
SNDK 256.12-9.5%10:42 AM EST

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From: Sam10/29/2019 9:44:51 AM
   of 4827
 
STX, WDC estimates raised on hyperscale demand
Oct. 29, 2019 8:55 AM ET|About: Seagate Technology plc (STX)|By: Brandy Betz, SA News Editor

Loop Capital raises its Seagate (NASDAQ: STX) target from $60 to $70, citing potentially better-than-expected hyperscale demand for the September and December quarters.

The firm lifts its 2020 earnings expectations for STX and Western Digital (NASDAQ: WDC) due to demand and pricing that "are pleasantly stable despite macro crosscurrents."

Upcoming catalysts: WDC reports earnings tomorrow and STX follows on November 1.

Loop reaffirms its Buy ratings on Seagate and Western Digital. STX has a Hold average Sell Side rating and WDC has an Outperform rating.


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