UPDATE: Goldman Sachs Upgrades NetApp (NTAP) to Neutral
Get Alerts NTAP Hot Sheet
Rating Summary:
20 Buy, 29 Hold, 6 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Goldman Sachs upgraded NetApp (NASDAQ: NTAP) from Sell to Neutral with a price target of $32.00 (from $26.00). Analyst Simona Jankowski sees more balanced risk/reward and has higher confidence in revenue stabilization.
"Our more positive view is based on 1) improved positioning in the transition to all-flash, 2) better trends in the strategic product portfolio (including the cDOT migration), which is now 61% of product revenues and should help offset mature revenue declines, and 3) ongoing cost reductions in COGS/opex," said Jankowski.
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 $34.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
- Prysmian SpA (PRY:IM) (PRYMY) PT Raised to EUR53 at HSBC
- Morgan Stanley Upgrades Shopify (SHOP) to Overweight, 'Still Operating Leverage Left to Realize'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT Change, UpgradesRelated 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!