Morgan Stanley lowers Seagate price target

|About: Seagate Technology (STX)|By:, SA News Editor

Morgan Stanley lowers its Seagate Technology (NASDAQ:STX) price target by $3 to $37 while maintaining an Equal Weight rating.

Analyst Katy Huberty cites lower 4Q and FY18 gross margin estimates based on high inventory and slowed 10TB ramp. 

Source: StreetInsider

Seagate shares are down 3.53% premarket.