Wells Fargo Starts NetApp (NTAP) at Outperform, $54-$56 Valuation Range

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Wells Fargo initiates coverage on NetApp (Nasdaq: NTAP) with an Outperform rating and $54-$56 valuation range.

The firm says, "NTAP is one of our top ideas that should benefit from storage share gains and exposure to both desktop and server virtualization. We think growth should continue to accelerate as the company leverages its software-based unified storage advantage."

NetApp, Inc. provides enterprise storage and data management software and hardware products and services in the United States and internationally.

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