Barclays analyst Tom O'Malley issued two striking target price upgrades on Tuesday, lifting his price target on STX from $750 to $1,000 — a 33% jump. He also raised his target on MU from $675 to $1,175, a 74% increase. Both stocks carry a Buy rating.
Seagate has a market cap near $190 billion. Micron just crossed $1 trillion. The moves suggest Barclays sees AI-driven demand for storage and memory running hotter than the market expects.
NVDA also got a boost. Tigress Financial's Ivan Feinseth lifted his target from $360 to $425, keeping a Buy rating. Nvidia carries consensus Buy ratings from 57 analysts.
On the downside, ZTS saw a consensus downgrade. Zoetis lost a Hold-equivalent vote, shifting the balance of analyst sentiment slightly more bearish. The animal health company now has 9 Hold ratings versus 11 Buys.
AZO had a mixed session. DA Davidson's Michael Baker cut his target from $4,300 to $3,750. A separate recommendation was also removed from the consensus. AutoZone carries a strong Buy consensus from 20 analysts overall.
HON rounded out the upgrades. Barclays raised its target on Honeywell from $243 to $251, maintaining a Buy. The industrial giant has 15 Buy ratings in total.
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