Mizuho Raises Seagate Technology Price Target to $1,090

Mizuho raised its price target on Seagate Technology Holdings Plc (NASDAQ:STX) to $1,090 from $875 on June 8, maintaining an Outperform rating on the shares. The firm raised its estimates following the company's quarterly AI results.

Rating Change

• Previous Price Target: $875
• New Price Target: $1,090
• Rating: Outperform

Analyst Rationale

Mizuho's analyst sees Seagate benefiting from growing demand for AI-related memory storage solutions, which boosts revenue and margins. The company's strong quarterly AI performance led to upward estimate revisions.

Context

Seagate is considered one of the best AI memory stocks to buy in 2026, according to Mizuho. The stock trades within a wide range, with other analysts also positive on the company's role in data storage.

What to Make of It

The price target increase reflects confidence in Seagate's sustainable growth driven by AI momentum. However, investors should consider risks such as high valuation and sector competition.