Auriga Upgrades NetApp (NTAP) to Buy; High Quality, Long-Term Growth at Attractive Entry Point

Auriga upgraded NetApp (NASDAQ: NTAP) from Hold to Buy with a price target of $57.00.

Auriga analyst says, "NetApp is an extremely well-managed company with among the highest growth prospects in large cap tech. We believe that continued market share gains in the very attractive storage system market will enable NetApp to be a consistent 10-15% top-line grower over the next 3-5 years, with modest margin expansion providing possibility for 15%+ bottom line growth over time, and any acquisition success providing further upside potential. We believe that the recent market downturn has created a good entry point on NTAP shares given our growth outlook, and thus we are upgrading the stock."

For more ratings news on NetApp click here and for the rating history of NetApp click here.

Shares of NetApp closed at $41.87 yesterday.

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