NetApp price target lowered to $65 from $67 at Loop Capital

Loop Capital lowered the firm’s price target on NetApp to $65 from $67 and keeps a Hold rating on the shares. The analyst notes that macro continues to weigh on business across the company’s on-premise hardware and cloud software, and NetApp is stepping up cost controls. The firm adds that the time to begin contemplating the long-side again could be the July quarter, but that of FY24.