Wells Fargo analyst Aaron Rakers swept through the storage sector with aggressive target price upgrades on Sunday.
Seagate Technology received the biggest lift. Rakers raised his target from $700 to $900, a 29% jump, while keeping a Hold rating. The stock carries a $199 billion market cap. Short interest sits at just 4.1% of free float.
Western Digital also benefited. Wells Fargo raised its target from $500 to $575. The Buy-rated stock has a market cap of $183 billion. Short interest is higher at 8.8% of free float.
Intel got a $25 target bump, moving from $85 to $110. Wells Fargo kept its Hold rating but the move signals growing confidence in the chipmaker's recovery.
Elsewhere, Piper Sandler lifted its target on Alphabet to $445 from $425. Wells Fargo raised Microsoft to $650 from $625.
AutoZone saw a consensus upgrade across the analyst community. The average target price ticked up to $3,938. The auto parts retailer now holds 22 Buy ratings.
PayPal and Coinbase saw minor target price cuts. PayPal's average target dipped to $51.35 from $52.53.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
