Seagate Technology Holdings plc (NASDAQ:STX) is among the stocks with the best earnings growth for the next 3 years. On June 12, JPMorgan raised the price target on Seagate Technology Holdings plc (NASDAQ:STX) to $920 from $775 and reaffirmed an Overweight rating. An optimistic outlook on pricing, leading to expected incremental margins in the quarters ahead, has resulted in higher earnings estimates for the HDD companies. No wonder the company is among the stocks with the best earnings growth for the next 3 years.
Although the companies have already turned positive on YoY pricing for the first time in the March quarter, JPMorgan anticipates further acceleration in the coming quarters, maintaining sequential price increases in the low- to mid-single digit range.
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Later on June 15, Morgan Stanley also lifted the price target on Seagate Technology Holdings plc (NASDAQ:STX) to $1,035 from $767 and reiterated an Overweight rating. The firm said its Asia checks from the past three years point to a hard disk drive cycle that is gaining further momentum, with greater shortages anticipated through at least CY28. The firm also notes that HDD pricing is “clearly, and meaningfully, strengthening.”
Seagate Technology Holdings plc (NASDAQ:STX) is an American company providing data storage technology and infrastructure solutions. The company’s core offerings include mass capacity storage products, legacy applications, and external storage solutions.
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