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Citi Remains Bullish on Seagate Technology Holdings (STX) Amid Stable Demand
Citi has reiterated its ‘Buy’ rating on Seagate Technology Holdings (STX), increasing its price target from $460 to $480 due to stable demand, particularly from enterprise customers expanding data center capacity for AI workloads. Seagate’s recent earnings report exceeded revenue expectations and projected strong third-quarter revenue, though adjusted EPS was slightly below estimates. The company, a key developer of data storage solutions, is benefiting from the accelerated data creation driven by AI.