NetApp price target raised to $85 from $80 at Evercore ISI

Evercore ISI raised the firm’s price target on NetApp to $85 from $80 and keeps an In Line rating on the shares after the company reported October-end quarter results above Street expectations. The company reported “very solid results with strong margin outperformance on the product side” in a challenging macro backdrop, says the analyst, who notes that NetApp provided a January-end quarter guidance ahead of Street expectations and raised their FY25 target.