NetApp Shares Spike Following ISI Analyst Comments
NetApp (NASDAQ: NTAP) shares on Tuesday saw an initial spike of ~1.7 percent, reaching a high of $36.94 following comments from ISI analyst Brian Marshall.
Marshall's comments came following an analyst day conference with the company.
Marshall noted that NetApp currently has ~33 percent of its market cap in net cash making it attractive to larger IT companies, such as Oracle and Cisco Systems for M&A activities.
Looking forward, Marshall believes NetApp's multi-year EPS could approach $3.75 based on new framework. This represents material upside to his current proforma calendar-year 2015 EPS estimate of $3.10.
In conjunction with his comments, Marshall maintained a Buy rating and a $40 price target.
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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Posted-In: Brian Marshall ISIAnalyst Color Price Target Reiteration Analyst Ratings
