Goldman Sachs Resumes NetApp (NTAP) at Neutral

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Goldman Sachs resumes coverage on NetApp (NASDAQ: NTAP) with a Neutral rating and $55 price target.

The firm said while NetApp is well positioned in networked storage to capture the lion's share of IT hardware revenue and profit growth, valuation and the VMWare stake makes EMC Corp (NYSE: EMC) more a more attractive investment in the storage sector.

For more ratings news on NetApp click here and for the rating history of NetApp click here.

Shares of NetApp closed at $54.15 yesterday, with a 52 week range of $28.92-$44.89.

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