NetApp price target raised to $100 from $90 at TD Cowen

TD Cowen raised the firm’s price target on NetApp to $100 from $90 and keeps an Outperform rating on the shares. The firm said the company saw a slight improvement in demand and a meaningful expansion of gross margins resulting from higher all-flash mix and lower component costs and history and the guidance suggest that the industry is in the last innings of the enterprise storage downcycle.