NetApp price target lowered to $70 from $74 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on NetApp to $70 from $74 and keeps a Buy rating on the shares. The company’s fiscal Q3 revenue was at the low end of guidance due to incremental demand weakness from large enterprises and hyperscalers, but large spending cuts drove upside to earnings, the analyst tells investors in a research note. The firm views the stock’s risk/reward as attractive.