NetApp price target raised to $130 from $120 at Evercore ISI

Evercore ISI raised the firm’s price target on NetApp to $130 from $120 and keeps an In Line rating on the shares ahead of the quarterly earnings report. The firm remains constructive on NetApp and thinks the July quarter and second half setup remains favorable for IT Hardware/Networking companies though those levered to networking will continue to face demand headwinds as customers continue to digest prior investments, the analyst tells investors in a research note.