Seagate Technology shares surge 5.9% after-hours on AI-driven Q2 earnings beat and analyst price target upgrades.

Seagate Technology Holdings PLC (STX) surged 5.90% in after-hours trading, driven by a string of bullish analyst upgrades and strong Q2 earnings performance. The stock climbed following Citigroup’s price target increase to $480 from $460, alongside similar上调 from Barclays ($425), Cantor Fitzgerald ($500), and TD Cowen ($500). These upgrades coincided with Seagate’s Q2 results, which beat earnings expectations and highlighted robust demand for HAMR (Heat-Assisted Magnetic Recording) technology in AI-driven data storage. The company also raised its long-term guidance, reinforcing confidence in its market position. Analysts cited the outperformance as a reflection of Seagate’s ability to capitalize on AI growth, with shares hitting a one-year high post-earnings. The rally was further amplified by institutional buying activity and positive sentiment around extended data storage demand, overshadowing minor valuation concerns.