NetApp price target raised to $120 from $105 at Stifel

Stifel raised the firm’s price target on NetApp to $120 from $105 and keeps a Buy rating on the shares after the company reported what the firm calls “a clean beat-and-raise.” The greater mix of all-flash drove margins to “another record,” says the analyst, continues to credit NetApp for its differentiated hybrid, multi-cloud strategy, which should continue to benefit from multiple top-line demand drivers and incremental margin upside.