NetApp (NTAP) PT Raised to $75 at Susquehanna Following Analyst Day

Susquehanna raised its price target on NetApp (NASDAQ: NTAP) to $75.00 (from $65.00) while maintaining a Positive rating following the company's analyst day. NTAP's FY21 Cloud Data Services revenue target of $400M-$600M, up from ~$60M-$80M in FY19 and mostly recurring SaaS, may lead to sum-of-the-parts valuation.

Management noted its offerings are not exclusive, and investors should not be surprise to see additional announcements with other cloud players.

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