NetApp price target raised to $105 from $91 at Loop Capital

Loop Capital raised the firm’s price target on NetApp to $105 from $91 and keeps a Hold rating on the shares. The firm states that while it has “missed the stock move”, the structural dynamics manifesting simultaneously over the last three quarter “could actually have legs”. Loop further cites opportunities with Gen AI in training and retrieval-augmented generation, addressing new points in the all-flash market with quad-level cell flash offerings, and a new purpose-built block storage product for the storage area network market.