NetApp price target raised to $140 from $135 at Wells Fargo

Wells Fargo raised the firm’s price target on NetApp (NTAP) to $140 from $135 and keeps an Equal Weight rating on the shares. NetApp reported solid Q2 results and increased its guidance for FY25, the analyst tells investors in a research note. The company’s outlook should provide incremental confidence in the company’s FY25-FY27 mid to high single digit revenue growth expectation outlined at the June 2024 Investor Day, but Wells continues to see shares as fairly valued.