Market Overview

UPDATE: Morgan Stanley Downgrades NetApp as Cloud Adoption Drives Rating Changes

Share:
Related NTAP
Barclays Says Nimble Storage Is 'Good Enough,' But Remains On The Sidelines
Nimble Storage In Recovery Mode After Second Consecutive Quarterly Revenue Beat

In a report published Wednesday, Morgan Stanley analyst Katy L. Huberty downgraded the rating on NetApp (NASDAQ: NTAP) from Overweight to Equal-Weight.

In the report, Morgan Stanley noted, “We move to a Cautious view of our group as cloud computing adoption accelerates faster than expected. We downgrade ACN to EW, NTAP to EW, and TDC to UW on revenue and multiple risk from cloud adoption, and upgrade BRCD to EW and WDC to OW on better risk/reward. We favor AAPL, HPQ, WDC into 2014.”

NetApp closed on Tuesday at $40.74.

Latest Ratings for NTAP

DateFirmActionFromTo
Aug 2016CLSAMaintainsUnderperform
Aug 2016SusquehannaUpgradesNeutralPositive
Aug 2016Deutsche BankMaintainsHold

View More Analyst Ratings for NTAP
View the Latest Analyst Ratings

Posted-In: Katy L. Huberty Morgan StanleyAnalyst Color Downgrades Analyst Ratings

 

Related Articles (NTAP)

View Comments and Join the Discussion!