UPDATE: FBN Upgrades Seagate Technology to Outperform

FBN is out with its report today on Seagate Technology (NYSE: STX), upgrading STX from Sector Perform to Outperform.

In a note to clients, FBN writes, "We are upgrading shares of STX from Sector Perform to Outperform and increasing our PT from $20 to $21 due to positive checks and due to share gains against HGST (primarily)."

At the time of posting, shares of STX were trading pre-market at $15.58, up 2.37% from Monday's close.