NetApp price target raised to $80 from $72 at Evercore ISI

Evercore ISI analyst Amit Daryanani raised the firm’s price target on NetApp to $80 from $72 and keeps an In Line rating on the shares. While “optimistic” on the potential runway NetApp has in AI and expressing the view that NetApp’s ONTAP meets the five key requirements that Evercore believes are relevant for AI-related storage, the firm remains “somewhat cautious” on how near-term macro dynamics are impacting spending.