Barclays analyst Tom O'Malley raised the Seagate Technology (STX) price target to $1,000 from $750 on May 27, 2026. The firm maintained an Overweight rating on the data storage provider.
O'Malley identifies memory and storage as the most attractive vertical after accelerators. Barclays forecasts a supply-demand imbalance in the sector to persist through 2027.
Seagate expects pricing leverage to increase as the product mix shifts toward high-capacity 40TB drives. This transition is anticipated to drive continued pricing upside later this year.