Bank of America raises target for Seagate stock to USD 1,200

Published on 10/23/2026 at 10:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal 2027 revenue is estimated at USD 18.7 billion. Seagate stock costs EUR 580.00 on October 23, 2026 before October 27 results.

Bank target and earnings date

Bank of America raised its Seagate target to USD 1,200 on October 21, 2026.
Fiscal 2027 revenue estimates increased to USD 18.7 billion.
Seagate stock trades at EUR 580.00 at 10:41 a.m. CEST at Lang & Schwarz on October 23, 2026.
Seagate will report fiscal first-quarter results on October 27, 2026.

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Seagate Technology (ISIN IE00BKVD2N49) was trading at EUR 580.00 at Lang & Schwarz on October 23, 2026 at 10:41 a.m. CEST. On October 21, 2026, Bank of America raised its price target to USD 1,200 from USD 1,150, according to Yahoo Finance.

Target rises as demand builds

The revised target reflects Bank of America's expectation that hard-drive demand will support fiscal 2027 revenue of USD 18.7 billion, up from its earlier USD 17.5 billion estimate. The bank also lifted its fiscal 2027 earnings-per-share forecast to USD 36.53 from USD 32.06, while identifying the production ramp for Seagate's Mosaic 4+ platform as a constraint.

Three dates define the setup

On July 28, 2026, Seagate reported fiscal fourth-quarter revenue of USD 3.63 billion and non-GAAP earnings per share of USD 5.71, according to Yahoo Finance. On October 14, 2026, Seagate announced that it would report fiscal first-quarter 2027 results after the US market close on October 27, 2026, according to Seagate.

On October 21, 2026, Bank of America raised its target to USD 1,200 from USD 1,150 as it pointed to stronger hard-drive demand, according to Yahoo Finance.

What will October 27 test?

The upcoming report will test whether pricing and volume can support the raised expectations. Bank of America expects September-quarter revenue of USD 4.2 billion, compared with Seagate's guidance of USD 4.0 billion to USD 4.2 billion, and forecasts earnings per share of USD 7.60 against the guided USD 7.10 to USD 7.50 range.

Valuation meets a fresh catalyst

Seagate's market capitalization was USD 146.0 billion on October 22, 2026, while its 52-week range was USD 217.67 to USD 1,145.00. The upcoming earnings release gives the new target a near-term test.

Seagate stock was trading at EUR 580.00 at Lang & Schwarz on October 23, 2026 at 10:41 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Seagate stock.