FBN is upgrading NetApp (NTAP) to Outperform, following a 15% drop in its stock price since a...


FBN is upgrading NetApp (NTAP) to Outperform, following a 15% drop in its stock price since a disappointing FQ2 report (I, II, III). While believing NetApp's direct sales business has lost share to EMC and Hitachi (HIT) over the last 2 quarters, the firm believes reseller sales, which now account for the bulk of its revenue, remain strong.

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