Brean Murray Carret Expects NetApp to Report an In-Line Q

In a recent research report, Brean Murray Carret said it believes that NetApp Inc. (NASDAQ: NTAP) is a $40-$45 stock when taking a 9 month view.

Brean Murray Carret commented in the report, “We expect NTAP to guide around Apr Q Street EPS of $1.68B and $0.63 although we expect some conservatism in both tone and guidance, primarily when considering drive availability and macro; indeed, most hardware companies that have reported have guided to some degree of softer seasonal Q guidance thus far. Street is set slightly below seasonality for NTAP for the coming quarters, which should provide some cushion relative to expectations.”

Brean Murray Carret reiterates its Buy rating and $45 PT on NetApp, which closed Friday at $39.69.