Raymond James analyst Simon Leopold downgraded NetApp to Market Perform from Outperform without a price target. The firm believes product margin has peaked, and among data center equipment categories, Storage sounds slower than servers and networking, the analyst tells investors in a research note. NetApp has has positioned itself for AI opportunities, and Raymond James expects an enterprise initiatives ramp in 2025, the firm adds.
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Read More on NTAP:
- NetApp downgraded to Underweight from Neutral at JPMorgan
- NetApp president Cernuda sells 22,000 common shares
- NetApp price target raised to $105 from $90 at Stifel
- NetApp call volume above normal and directionally bullish
- NetApp price target raised to $91 from $78 at Loop Capital
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