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Seagate reiterated as strong buy with $1,410 target on HAMR tech and AI data center demand

Analyst Insights
28 May 2026
Seeking Alpha
View Source
Bullish
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An analyst reaffirms a strong buy rating for Seagate Technology, citing improved earnings potential driven by HAMR technology, increased hyperscale demand, and AI-driven data center storage needs. The price target is set at $1,410, implying a 70% upside based on a forward P/E of 56.86 and estimated EPS of $24.81. Key risks include a slowdown in AI capital expenditure, execution challenges with HAMR, and valuation compression. The analyst holds a long position in Seagate and emphasizes the thesis has strengthened since the last report.

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