The bottom line

Seagate’s stock rose 2.5% following upgraded price targets from two major financial analyst firms.

What happened

Shares for data storage manufacturer Seagate jumped 2.5% during the afternoon trading session. The increase followed positive revisions from analysts at both Citigroup and Evercore ISI, who raised their respective price targets for the company’s stock.

Citigroup analyst Asiya Merchant maintained a ‘Buy’ rating while increasing the price target to $250 from $215. Separately, Evercore ISI kept its ‘Outperform’ rating and adjusted its price target significantly higher, moving it to $330 from $160.

Why it matters

• Analyst Confidence: The dual upgrades from influential firms signal strong institutional belief in Seagate’s future performance and valuation.
• Price Target Hikes: The new targets, particularly Evercore ISI’s jump to $330, suggest substantial expected upside from current levels.
• Market Reaction: The immediate 2.5% stock increase demonstrates that investors are reacting positively to the revised analyst sentiment.

What’s next

Investors will watch to see if Seagate’s stock price continues its upward trend toward the new analyst targets. The company’s next earnings report will be a key event to validate this optimistic outlook.