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UPDATE - Barclays Upgrades NetApp (NTAP) to Overweight; Can't Ignore Momentum in the Cloud, Even Up Here

December 13, 2010 1:29 PM EST Send to a Friend
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Price: $43.00 -0.92%

Rating Summary:
    15 Buy, 30 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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UPDATE - Barclays upgrades NetApp (Nasdaq: NTAP) from Equalweight to Overweight. PT increased from $56 to $67.

Barclays analyst says, "Given prospects for higher revenues and more leverage, we are raising our FY11 non-GAAP EPS estimate to $2.04 (up from $2.00) based on 27% y/y revenue growth to $5.01 billion (was $4.96B). We now project 3Q11 non-GAAP EPS of $0.50 (up from $0.49) based on revenue growth of 27% y/y (and +6% q/q) to $1.28B. For full-year FY12, we now estimate non-GAAP EPS of $2.28 (was $2.24) based on 16% y/y revenue growth to $5.81B (was $5.68B). We are also introducing a non-GAAP EPS estimate for 2013 of $2.63 base on y/y revenue growth of 15% to $6.65B."

To see all upgrades/downgrades on shares of NTAP, visit our Analyst Ratings page.

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