Baird just raised its Seagate price target 25%, from $1,080 to $1,350, while maintaining an Outperform rating. That works out to roughly 102% potential upside from the $667.85 closing price.
The numbers they're pointing to: FY2027 exabyte growth projected above 25%, nearline storage capacity growth projected at 30%, quarterly revenue of $4.23 billion, and adjusted EPS of $7.68, which beat expectations.
AI infrastructure doesn't run on GPUs alone. Massive amounts of data require massive storage capacity, and Seagate is positioned to benefit from that.
Wall Street may be focused on short-term guidance, but Baird is looking at the bigger picture here: accelerating AI storage demand and long-term earnings growth.
$Seagate Technology PLC(STX)$ $Western Digital(WDC)$ $SanDisk Corp.(SNDK)$ $Micron Technology(MU)$
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