Barclays has revised its outlook on Seagate Technology's stock (STX, Financial), reducing the price target from $105 to $80. This decision to maintain an Equal Weight rating comes as the firm reassesses the impact of tariffs and ongoing trade tensions on semiconductor and semiconductor capital equipment sectors.
The updated models incorporate potential risks associated with China's economic environment and consumer market fluctuations, which have prompted a reevaluation of target multiples. These adjustments are made in the lead-up to Seagate's first-quarter earnings report, reflecting caution in the face of global trade uncertainties.
