NetApp price target lowered to $115 from $132 at Barclays

Barclays lowered the firm’s price target on NetApp (NTAP) to $115 from $132 and keeps an Equal Weight rating on the shares. The company’s fiscal Q3 results were weak as multiple deals slipped out of the quarter, the analyst tells investors in a research note. The firm says NetApp’s Q4 guidance came in lower than expected and its fiscal year guidance was pulled down by currency headwinds and global public sector weakness. Barclays cut estimates post the earnings print.