Seagate Technology (STX)

[starbuxsux]

Seagate Tech target raised to $26 at Brean Murray

9:23 AM ET 1/27/12 | Briefing.com . Brean Murray raises their STX tgt to $26 from $23 as STX is meaningfully increasing both its share repurchase plans and its dividend. The firm notes that STX reports Dec Q results Tues Jan 31 and they would be buying the stock at current levels, as they believe minimally the share repurchase suggests another $0.55 to CY12 EPS (worth at least $2 in stock) and they would argue at least 0.5x -- 1.0x in P/E expansion from the dividend increase.