NetApp price target raised to $83 from $80 at Citi

Citi raised the firm’s price target on NetApp to $83 from $80 and keeps a Neutral rating on the shares. Amid a tough enterprise spending environment, NetApp delivered revenue above the mid-point of its guidance and earnings higher on better gross margins and higher operating leverage, the analyst tells investors in a research note. However, the firm awaits third party data verification to get more excited about the company’s share gains.