UPDATE: FBN Securities Raises Price Target on NetApp to $50

According to FBN Securities, NetApp

price target is raised to $50. FBN Securities said that it reiterates its Outperform rating on NTAP and raises its PT from $45 to $50. “Although the growth of Core NTAP was around 8% in FQ3, shares are trading at only about 10x ex-cash of $10/share and remain attractive.” NetApp closed yesterday at $39.88.