Barclays analyst Tim Long raised the firm’s price target on NetApp to $80 from $69 and keeps an Equal Weight rating on the shares. The company’s fiscal Q2 results beat estimates, aided by better margins and the strong ramp of the mass capacity C-series, the analyst tells investors in a research note. The firm says Public Cloud annual recurring revenue missed its estimate, and will move lower in the near-term following a strategic review.
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