Barclays New Price Prediction For Seagate Stock: Check Target

Leading global investment bank Barclays has provided a new price prediction for Seagate stock (NASDAQ: STX). The forecast comes after the hard-disk drive manufacturer fell to the $740 level last week from a high of $1,145. Not just STX, its competitor SanDisk stock (NASDAQ: SNDK) also plunged below $1,000 during the late-July market crash.

However, both Seagate and SanDisk stocks recovered from the slump, and STX is trading at $837 on Thursday’s opening bell. On the heels of the price recovery, Barclays’ latest price prediction on STX remains optimistic about a comeback. The projection states that traders who take an entry position now at the $830 level stand a chance to make bigger gains.

Also Read: SanDisk Stock Reclaims $1,400: Wall Street Gives New Price Target

Seagate Stock Price Prediction: Barclays New Target For STX

Thomas O’Malley, the Equity Research Director at Barclays, has maintained his buy rating for Seagate stock. In a note sent to clients last week after the crash, the analyst predicted that STX could reach a price target of $1,250 next. He upgraded his projection from the previous target of $1,000 to $1,250, indicating bullishness on the hard-disk manufacturer.

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