Summit Research Upgrades NetApp Inc.

On Tuesday analysts at Summit Research upgraded shares of NetApp Inc. NTAP to a Buy rating and raised the price target to $55.

Srini Nandury outlined reasons for the upgrade.

Nandury stated, “our upgrade is based on the thesis that NetApp will have no
choice but find itself a buyer.”

Analysts find NetApp is a prime candidate for a takeover bid stating, “ NetApp would make a better acquisition candidate (than EMC) with respect to integration, since ~90-95% of revenue is derived from the ONTAP software, and any acquirer would have an easier time integrating the company.”

Shares of NetApp recently traded at $43.21 up 0.47%.