NetApp price target lowered to $62 from $65 at Susquehanna

Susquehanna analyst Mehdi Hosseini lowered the firm’s price target on NetApp to $62 from $65 and keeps a Neutral rating on the shares. The analyst said his thesis is playing out as Product revenue will continue to track down and he believes the downside risk to consensus has already been dialed into the share price. There also remains a lack of visibility on the rate of recovery post troughing.