NetApp price target raised to $140 from $130 at Evercore ISI

Evercore ISI raised the firm’s price target on NetApp (NTAP) to $140 from $130 and keeps an In Line rating on the shares after the company reported “notable EPS upside” with its October-end quarter results. NetApp continues to execute well, delivering a solid beat-and-raise in a still-uncertain macro environment, says the analyst, who thinks it is clear that the company is “doing an impressive job in not just executing but also picking up” incremental market share, but adds that there will remain some debate around cyclical versus secular vectors.