Auriga Maintains a 'Buy' on NetApp (NTAP); In-line Results and Guidance

Auriga maintains a 'Buy' on NetApp (NASDAQ: NTAP) price target of $52.00.

Auriga analyst says, "NetApp reported F3Q12 results in-line with consensus and also guided in-line with consensus. NTAP, the stock, seems stuck in the middle between growth investors dissatisfied with the decelerating organic revenue growth, and value oriented investors who believe the stock still looks too expensive. Our view is that NetApp is an extremely well managed company with among the highest growth prospects in large cap tech. We believe the company sustains share gains that drive growth within our long term 10-15% organic CAGR assumption over time, and that current valuation represents a good entry point given that growth profile."

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 $39.88 yesterday.

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