UPDATE: Cantor Fitzgerald Upgrades NetApp to Buy, Raises PT

In a company update published earlier today, Cantor Fitzgerald L.P. upgraded its rating for NetApp, Inc. (NASDAQ: NTAP) from Hold to Buy, and raised its price target from $36.00 to $38.00.

Cantor Fitzgerald went on to say “Near-term, the high-end technology challenge has been remedied and the company is nearing introduction of what appears to be a highly competitive flash-storage solution, the latter of which has been sorely lacking. Longer-term, either stand-alone or as part of a larger organization, we view NetApp as one of two consolidators of the storage market, which today has none with >35% share.”

NetApp, Inc. closed on Friday at $30.33.

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