Goldman Sachs Raises Target on NetApp (NTAP) to $41, Keeps Neutral Rating
Get Alerts NTAP Hot Sheet
Price: $104.97 -0.24%
Rating Summary:
20 Buy, 29 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
20 Buy, 29 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Goldman Sachs lifted its price target on Neutral-rated NetApp (NASDAQ: NTAP) from $38 to $41 following "relatively in-line" Q3 results.
The firm highlighted that NetApp noted stabilization across all major geographies and in most of its major accounts, though this was somewhat dampened by U.S. public sector spending. Gross margins and operating margins were light. The firm also noted that NetApp's outlook was better than we feared.
Goldman now expect revenues of $1.69 billion and EPS of $0.62, versus its prior forecast of $1.70 billion and $0.54. For FY2013, they forecast revenues of $7.03 billion and EPS of $2.73, up from $7.02 billion and $2.65. FY2014 forecast now calls for EPS of $3.19 up from $3.17 on unchanged revenues of $7.76 billion. The adjusted guidance reflects tamer gross margin pressure in the near term.
For an analyst ratings summary and ratings history on NetApp click here. For more ratings news on NetApp click here.
Shares of NetApp closed at $39.88 yesterday.
The firm highlighted that NetApp noted stabilization across all major geographies and in most of its major accounts, though this was somewhat dampened by U.S. public sector spending. Gross margins and operating margins were light. The firm also noted that NetApp's outlook was better than we feared.
Goldman now expect revenues of $1.69 billion and EPS of $0.62, versus its prior forecast of $1.70 billion and $0.54. For FY2013, they forecast revenues of $7.03 billion and EPS of $2.73, up from $7.02 billion and $2.65. FY2014 forecast now calls for EPS of $3.19 up from $3.17 on unchanged revenues of $7.76 billion. The adjusted guidance reflects tamer gross margin pressure in the near term.
For an analyst ratings summary and ratings history on NetApp click here. For more ratings news on NetApp click here.
Shares of NetApp closed at $39.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hyundai Motor (005380:KS) (HYMTF) PT Raised to KRW290 at Citi
- Cintas (CTAS) PT Raised to $725 at RBC Capital
- Cintas (CTAS) PT Raised to $790 at UBS
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Goldman SachsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!