Cantor Fitzgerald Upgrades NetApp (NTAP) to Buy; Compelling Risk Reward After Reset

Cantor Fitzgerald upgraded NetApp (NASDAQ: NTAP) from Hold to Buy with a price target of $38.00 (from $36.00).

Analyst, Paul Mansky, said, "In our view, the reset on the July quarter stemmed from a combination of a reduced pipeline exiting January, a pause at the high end attributed to a technology challenge, and intensifying competition - in declining order of impact. With estimates calling for near zero growth over the coming year, we view risk as now to the upside in a neutral environment. In a more difficult environment, relative risk is equally compelling."

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 $30.33 yesterday.

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