Movement Alert|Seagate Technology Rises 3.27% Overnight, Citigroup Raises Target to $1240 as Multiple Banks Issue Bullish Calls

Market Focus
Jul 14

On July 14, Seagate Technology rose 3.27% in after-hours trading, trading at $888.81 per share, with turnover of $12.04 million. The rebound followed a 6.74% decline in the regular session as the broader storage sector experienced a sharp correction.

On the news front, Citigroup raised its price target on Seagate from $1,150 to $1,240 while maintaining a Buy rating. On the same day, UBS significantly lifted its target from $545 to $860, maintaining a Neutral rating. These actions followed Wells Fargo upgrading Seagate to Overweight with a $1,100 target and Goldman Sachs raising its target to $960. FactSet consensus now shows an average analyst target of $988.55. The concentration of bullish revisions from major investment banks appeared to bolster overnight sentiment after the storage sector shed approximately $340 billion in combined market capitalization over two sessions. Among sector peers, SanDisk rose 3.67% and Western Digital gained 2.55%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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