NetApp price target lowered to $84 from $125 at Morgan Stanley

Morgan Stanley analyst Meta Marshall lowered the firm’s price target on NetApp (NTAP) to $84 from $125 and keeps an Equal Weight rating on the shares. Tariffs add more uncertainty into the networking spending market, where demand intentions were “strong, but weakening,” the analyst tells investors. The breadth of the tariffs announced on April 2 “leave little room to hide,” challenging margins, demand or both, the analyst added in a note on the telecom and networking equipment group.