UPDATE: Brean Murray Carret Downgrades NetApp to Hold on Revenue Visibility Challenges
Brean Murray Carret reduces its rating on NetApp (NASDAQ: NTAP) from Buy to Hold and removes its previous $50 price target.
Brean Murray Carret notes, "We're moving to Hold from Buy for now as the July Q revenue softness we spoke of in our preview is substantially greater than we'd envisioned and uncertainty regarding opex $ spend the next couple of Q's remains. We continue to view NTAP as a L-T winner and best of breed leader in the important growth markets of Networked Storage, Cloud, Virtualization and Big Data."
NTAP closed at $32.86 on Wednesday.
Latest Ratings for NTAP
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 2022 | Barclays | Upgrades | Equal-Weight | Overweight |
| Feb 2022 | Wells Fargo | Maintains | Equal-Weight | |
| Feb 2022 | Deutsche Bank | Maintains | Hold |
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