NetApp price target raised to $80 from $77 at Raymond James

Raymond James analyst Simon Leopold raised the firm’s price target on NetApp to $80 from $77 and keeps an Outperform rating on the shares. NetApp’s Q1 results were largely in line with estimates, though Public Cloud Services declined sequentially, and segment revenue is now expected to be lower than previously anticipated in FY24, which is offset by better growth from Hybrid Cloud, the analyst tells investors in a research note.