Brean Murray Carret: Growth Opportunities for NetApp

According to a research report published this morning, Brean Murray Carret maintains its Hold rating for NetApp Inc (NASDAQ: NTAP).

Brean Murray Carret mentions in the report, “We see potential revenue catalysts although headwinds. NTAP states it captured a record number of new customers in FY12, which could look to spend when things firm up – NTAP experienced a similar dynamic heading into the last recession, and these new customers (looking for new, more efficient ways to approach their infrastructure when the environment softens) helped to spur revenue growth that eventually peaked at 36%. New customer acquisitions, Distribution, and Go‐To‐Market strategy in a softening time are not a new occurrence for NTAP, and management reiterated its ability to take advantage of storage efficiency needs in previous downturns. As new customers are added (albeit through aggressive negotiations), it has historically been a catalyst for future growth in business.”

NetApp closed yesterday at $29.66