BofA raised the firm’s price target on NetApp (NTAP) to $129 from $125 and keeps a Neutral rating on the shares following a “solid” fiscal Q2 report that featured a beat on revenues, gross margins, operating margins and EPS guidance. While NetApp continues to see strong demand for its AI solutions as well as first party and marketplace cloud storage services and all-flash offerings, the firm reiterates a Neutral rating as headwinds from broader macro uncertainty are offset by somewhat stronger overall margins.
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