BofA Reaffirms Buy Rating on Seagate Technology (STX)
BofA has reaffirmed its Buy rating on Seagate Technology (STX) with a $120 price target, while BlackRock highlights the stock as one of its top 30 AI investments.
Key Numbers
Bank of America (BofA) has reaffirmed its Buy rating on Seagate Technology Holdings plc (NASDAQ:STX) with a price target of $120, according to a recent report. This comes as BlackRock, the largest institutional investor in the company, highlights the stock as one of its top 30 AI holdings.
Rating Change
No change was made; BofA maintained its Buy rating and $120 price target, implying an upside of approximately 15% from the last closing price.
Analyst Rationale
Analysts see Seagate benefiting from rising demand for high-capacity storage solutions required for AI applications. BlackRock's significant stake (6.37% of outstanding shares) reflects institutional confidence in the company's prospects.
Context
STX stock has performed positively over the past year, with strong analyst consensus. As of July 2026, the stock carries a majority Buy rating.
Conclusion
BofA's reaffirmation underscores the positive outlook for Seagate amid AI growth, though investors should monitor storage demand trends and competitive dynamics.
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