Seagate Stock Jumps 7.5% on Morgan Stanley

Seagate Technology shares surged 7.5% on Monday after Morgan Stanley upgraded the stock to Overweight and raised its price target to $582.
The new target implies a 35% upside from Friday’s close of $429.36, reflecting expectations of stronger HDD demand and pricing per terabyte.
Morgan Stanley analyst Erik Woodring said supply‑demand tracker signals HDD shortages through calendar year 2028, boosting margins and EPS above consensus.
Estimates were also raised for Western Digital as market conditions improve for hard‑disk drives.