European Investor
15 Jun 2026, 14:40
Seagate Shares Jump After Morgan Stanley Raises Price Target
Seagate Technology (NASDAQ: STX) shares gained 8.3% after Morgan Stanley raised its price target to $1,035 from $767 while maintaining an Overweight rating.
The higher target reflects growing confidence in Seagate's ability to benefit from the AI-driven expansion of data centers, where demand for high-capacity storage continues to rise alongside computing power requirements.
As hyperscale cloud providers and AI companies build larger infrastructure networks, investors are increasingly bullish on storage providers such as Seagate, which supply the hard drives needed to manage massive amounts of data generated by AI applications.
The bullish analyst action helped drive shares sharply higher, as Wall Street continues to identify Seagate as a key beneficiary of the ongoing AI infrastructure investment cycle.
Seagate Technology (NASDAQ: STX) shares gained 8.3% after Morgan Stanley raised its price target to $1,035 from $767 while maintaining an Overweight rating.
The higher target reflects growing confidence in Seagate's ability to benefit from the AI-driven expansion of data centers, where demand for high-capacity storage continues to rise alongside computing power requirements.
As hyperscale cloud providers and AI companies build larger infrastructure networks, investors are increasingly bullish on storage providers such as Seagate, which supply the hard drives needed to manage massive amounts of data generated by AI applications.
The bullish analyst action helped drive shares sharply higher, as Wall Street continues to identify Seagate as a key beneficiary of the ongoing AI infrastructure investment cycle.
