NetApp (NTAP): Weak Channel Feedback Doesn't Tell The Whole Story - Baird
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Baird analyst, Jayson Noland, reiterated his Neutral on shares of NetApp (NASDAQ: NTAP) noting that several competitive previews have cited poor channel feedback across a sample of NetApp resellers. The coincides with his data points but he added color that NetApp is shifting resources to its largest partners making the near-term read difficult.
He is reiterating a Neutral rating given the competitive challenges facing the broader Storage Industry but also notes that " excessively negative sentiment could provide a trading opportunity into the quarter". No change to the price target of $37.
Shares of NetApp closed at $33.86 yesterday.
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Related EntitiesRobert W Baird, Jayson Noland
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