- Pivotal Research Group initiates NetApp (NASDAQ:NTAP) at Hold with a $54 price target after earnings.
- Firm says product and operation improvements will likely stay, but the company remains vulnerable to emerging competition.
- Pivotal isn’t looking for “implosion” anymore. Sees attractive growth in the next two quarters with concern for what comes after those quarters.
- In another analyst action, BMO Capital Markets upgrades NetApp from Market Perform to Outperform.
- NetApp shares are up 12.7% premarket.
- Previously: NetApp +4.3% after Q2 beats, upside guidance (Nov. 15)