Piper Jaffray Upgrades NetApp (NTAP) to Overweight; Lifts Price Target
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Piper Jaffray & Co. upgrades NetApp, Inc. (Nasdaq: NTAP) from Neutral to Overweight. Price target increased from $18 to $28.
Piper analyst says, "Our channel checks indicate NetApp has experienced a substantial improvement in near-term demand, coupled with a healthy increase in pipeline activity. We believe NetApp is on track to post better-than-expected results for the July quarter and tight cost controls (and less industry discounting) should drive operating margin expansion. While the loss of Data Domain (Nasdaq: DDUP) was disappointing, we do not believe it was the be-all and end-all of future growth and expect NetApp will continue taking share in the small/mid-size storage market."
To see more analyst ratings on NTAP Click Here.
NetApp, Inc. provides enterprise storage and data management software and hardware products and services. It
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