Wedbush lifts Seagate price target to $1,000, citing HAMR demand and an upbeat earnings setup
AI Market Summary
Wedbush raised its Seagate (STX) price target to 1000 and reiterated an overweight stance ahead of upcoming Q4 results, with consensus expecting EPS of 4.89 (roughly double y/y). The bullish view is supported by HAMR drive momentum, including long-term agreements extending beyond 2026 and capacity bookings into 2027. The note reinforces strong buy-side positioning after a near-200% YTD rally and may tighten near-term expectations into earnings.
Impact level
● Medium
Affected assets
STX/USDT-2.94%
AI Insight · STX/USDTAI Insight
▲ Bullish
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Wedbush analyst raised the price target on Seagate Technology (STX) to $1,000 and reiterated an "Outperform" rating.
Seagate is set to report fiscal Q4 results soon. Wall Street expects earnings per share of $4.89, roughly double the year-ago level, and Wedbush argues the company could deliver another upside surprise.
The firm pointed to momentum in Seagate's HAMR hard drives, saying the product has already secured additional long-term agreements starting in the second half of 2026, with capacity largely booked through 2027.
STX shares are up nearly 200% year to date. The broader analyst consensus remains "Strong Buy," with an average price target around $1,020.
