NetApp price target raised to $132 from $127 at Morgan Stanley

Morgan Stanley raised the firm’s price target on NetApp (NTAP) to $132 from $127 and keeps an Equal Weight rating on the shares. Fiscal Q2 results were “better than investors feared” as the flash momentum continues, the analyst says. 100-plus AI wins are “encouraging,” but an Enterprise AI opportunity that is “still largely further out” and a stable macro backdrop leaves the firm with an Equal Weight rating, the analyst added.