JPMorgan Raises NetApp (NTAP) PT To $85 Expecting Upside to Guidance

August 13, 2018 8:03 AM EDT
Get Alerts NTAP Hot Sheet
Price: $78.07 -0.61%

Rating Summary:
    24 Buy, 25 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 25 | New: 41
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JPMorgan analyst, Paul Coster, reiterated his Overweight rating on shares of NetApp (NASDAQ: NTAP) and raised his price target to $85 from $80 expecting NTAP to meet expectations for reported results and beat expectations for guidance

The analyst stated "IT spending is cyclically strong, cloud adoption continues to surprise to the upside, flash arrays are the sweet-spot of the storage device market, and NTAP is therefore well-positioned to post another strong print
given the firm is over-indexed to these growth opportunities. Expectations are elevated judging by the multiple at which the stock trades, but we think NTAP will meet and beat".

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 $81.95 yesterday.

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