UPDATE: Wedbush Raises Price Target On NetApp on Massive Buyback, Dividend and Restructuring

In a research report published on Wednesday, Wedbush analyst Rohit Chopra raised the price target on

from $35 to $40 and maintained a Rating of Neutral on the company. In the report, Wedbush stated, "Bottom line, the health of the business remains challenged given results and guide, but the company is adjusting to business conditions and addressing capital allocation, which we think investors will view positively." NetApp closed Tuesday at $36.63.