Morgan Stanley Believes Branded Revenue Guidance Still Appears Aggressive For NetApp

In a report published Thursday, Morgan Stanley analyst Katy L. Huberty reiterated an Underweight rating and $34.00 price target on NetApp NTAP. In the report, Morgan Stanley noted, “We see risk to the branded growth acceleration necessary to offset OEM declines and hit full year revenue guidance. While Enterprise showed signs of life in F1Q, international and channel growth weakened during the quarter, driving overall branded growth of just 1%. Remain UW.” NetApp closed on Wednesday at $39.30.
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Posted In: Analyst ColorReiterationAnalyst RatingsKaty L. HubertyMorgan Stanley
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