Raymond James has upgraded NetApp (NTAP +10.6%) to Outperform following yesterday's FQ2 beat (I,...

|By:, SA News Editor

Raymond James has upgraded NetApp (NTAP +10.6%) to Outperform following yesterday's FQ2 beat (I, II): the firm expects growth to pick up thanks to product refreshes, new partnerships, and stronger flash memory integration. Goldman sees the report as evidence enterprise IT spending is stabilizing after a tough Q3, though it likes EMC (EMC +0.2%) better. During its earnings call, NetApp mentioned it saw a 20% Y/Y increase in $1M+ deals; the company is trying to boost its high-end presence with the help of new clustering capabilities.