Seagate Technology shares are trading lower after Exane BNP downgraded the stock from Neutral to Underperform and announced a $65 price target.
Portfolio Pulse from Benzinga Newsdesk
Seagate Technology's stock (STX) trades lower following a downgrade from Neutral to Underperform by Exane BNP, which also set a price target of $65.

January 11, 2024 | 3:29 pm
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NEGATIVE IMPACT
Seagate Technology's stock price is negatively impacted by Exane BNP's downgrade from Neutral to Underperform and a new price target of $65.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less favorable outlook for the company's future performance. The setting of a price target can also influence investor expectations and stock price movements. In this case, the downgrade by Exane BNP to Underperform indicates a bearish view on Seagate Technology, which is likely to result in a decrease in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100