NetApp price target raised to $135 from $130 at Citi

Citi raised the firm’s price target on NetApp (NTAP) to $135 from $130 and keeps a Neutral rating on the shares. The shares traded 5% higher as the compaby’s fiscal Q2 results came in ahead of expectations, the analyst tells investors in a research note. However, the firm says NetApp faces tougher comps ahead and meaningful upside is unlikely pending a broader based recovery in enterprise storage spending or significant uptick in artificial intelligence driven storage demand.