Seagate Jumps 7.5% on Morgan Stanley Pick

Seagate Technology shares rose 7.5% on Monday after Morgan Stanley named it a top pick and lifted its price target to $582.
Morgan Stanley analyst Erik Woodring kept an Overweight rating, citing stronger HDD demand and projected supply shortages through calendar year 2028.
The new $582 target implies a 35% upside from Friday’s $429.36 close, driven by higher price per terabyte boosting margins and EPS.