BofA raised the firm’s price target on NetApp (NTAP) to $125 from $121 and keeps a Neutral rating on the shares. The firm expects NetApp to report fiscal Q1 results in the upper half of the guided range and expects Q2 guidance above the Street consensus given strength in storage, the analyst tells investors in a preview. The firm expects NetApp to leave fiscal year guidance unchanged, though the expected beat and Q2 guidance will make the outlook appear more achievable, the analyst added.
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