UPDATE: Cantor Fitzgerald Initiates Hold, $48 Target on NetApp

Cantor Fitzgerald initiates its coverage on NetApp NTAP with a Hold rating and a price target of $48 as a bumpy six months obscures what could be an attractive 2013. Cantor Fitzgerald comments, "With the stock up 29% versus the lows of January 17th, shares are trading at three-year mean multiples. Facing stiffening year-on-year comparisons, a potential operating margin reset, and increased competition, we see little by way of near-term catalysts." NTAP closed at $40.95 a share on Tuesday.