- Analyst Simona Jankowski, though recognizing improvement, retains NetApp (NASDAQ:NTAP +9.4%) at Neutral due to sharp competition straining Product segment gross margins (48.2% vs. 51.8% Y/Y).
- Raises FY 2017 EPS projection from $2.35 to $2.65 (consensus $2.37) and price target from $32 to $36 (current price $38.12).
- Yesterday: NetApp +10%; Q2 actual, Q3 EPS guide over consensus
- Further analyst commentary