UPDATE: Wedbush Raises Price Target on NetApp to $43

According to Wedbush, NetApp NTAP price target is raised to $43. Wedbush said that it maintains its rating on NetApp given in line print and guide as well as new concerns regarding margin erosion and intensifying competition. “Company posted in line revenue and EPS in a quarter with notable positives including E-Series OEM sales ramping ahead of schedule, record new customer additions, better than expected growth from Europe and a material increase in deferred revenue.” NetApp closed yesterday at $39.88.