Morgan Stanley Believes Branded Revenue Guidance Still Appears Aggressive For NetApp
In a report published Thursday, Morgan Stanley analyst Katy L. Huberty reiterated an Underweight rating and $34.00 price target on NetApp (NASDAQ: NTAP).
In the report, Morgan Stanley noted, “We see risk to the branded growth acceleration necessary to offset OEM declines and hit full year revenue guidance. While Enterprise showed signs of life in F1Q, international and channel growth weakened during the quarter, driving overall branded growth of just 1%. Remain UW.”
NetApp closed on Wednesday at $39.30.
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: Katy L. Huberty Morgan StanleyAnalyst Color Reiteration Analyst Ratings
