Wells Fargo lowered the firm’s price target on NetApp (NTAP) to $100 from $115 and keeps an Equal Weight rating on the shares. While the firm finds NetApp’s valuation as somewhat de-risked at 12-turns its new 2026 EPS estimate, Wells remains on the sidelines as it expects shares to keep being range-bound until more visible signs of high-single-digit-plus revenue growth materializes.
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