Seagate Upgrade
12 Gennaio 2005 - 5:42PM
PR Newswire (US)
Seagate Upgrade SAN FRANCISCO, Jan. 12 /PRNewswire/ -- We are
raising Seagate to a hold based on the recent sales strength in the
PC and consumer electronics segments for drives and the
expectations for a strong March quarter. Seagate's recent new
product introductions are also having a positive impact on the
firm. While we view the stock now as fairly to fully priced based
on the revised consensus 2005 estimates, we are expecting to see
both revenue and earnings growth in fiscal 2006. We now expect
Seagate to post a net income in fiscal 2006 of $0.90 per diluted
share, on revenues of $7.26 billion. Pressure from expected future
secondary share offerings could continue to limit upside potential.
All expressions of opinion reflect the judgment of the Research
Department of Hoefer & Arnett, Inc. at this date and are
subject to change. We have obtained information from sources
considered reliable, but we do not guarantee that the foregoing
report is accurate or complete. Other departments of Hoefer &
Arnett, Inc may have information, which is not available to the
Research Department about companies mentioned in this report.
Hoefer & Arnett, Inc., or its affiliates may execute
transactions in the securities mentioned in this report, which may
not be consistent with the report's conclusions. Hoefer &
Arnett, Inc. may perform investment banking or other services for,
or solicit investment-banking business from any company mentioned
in this report. Partners, officers, employees and accounts
controlled by Hoefer & Arnett, Inc. may own shares of any
company mentioned herein. Hoefer and Arnett makes a market in this
stock. The Analyst certifies that the views expressed in this
research report accurately reflect his personal views about the
subject company and its securities. He also certifies that he has
not been, is not, and will not be receiving direct or indirect
compensation related to his views expressed or any specific
recommendations that are contained in this report. Neither the
Analyst nor any member of his family holds a position in Seagate.
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