NetApp price target lowered to $110 from $135 at Citi

Citi lowered the firm’s price target on NetApp (NTAP) to $110 from $135 and keeps a Neutral rating on the shares. The company reported fiscal Q3 results where sales missed on deal pushout and currency, with its international public sector more impacted, the analyst tells investors in a research note. The firm says that while management is confident the miss was not on competitive losses, which is a positive, the execution miss raises investor attention, nonetheless. It moved estimates lower post the earnings report.