NetApp price target raised to $73 from $63 at BofA

BofA analyst Wamsi Mohan raised the firm’s price target on NetApp to $73 from $63 and keeps an Underperform rating on the shares. NetApp executed well and delivered results that met or exceeded guidance in a tough environment, but the firm sees risk to estimates driven by the weak macro backdrop, potentially weaker product growth, competitive price pressure and any share loss in All Flash Arrays, the analyst tells investors.