NetApp price target raised to $130 from $120 at Citi

Citi analyst Asiya Merchant raised the firm’s price target on NetApp to $130 from $120 and keeps a Neutral rating on the shares ahead of the fiscal Q1 report. The firm models the company’s June quarter revenue, margins, and earnings at the guidance midpoint and inline with Street. Investors will focus on NetApp’s storage demand trajectory, growth momentum in flash-based and block offerings and overall public cloud segment performance, the analyst tells investors in a research note.