Susquehanna downgraded NetApp (NTAP) to Neutral from Positive with a price target of $130, down from $155. The firm sees increased downside risk to consensus estimates, especially in the July and October quarters, as NetApp’s compares become challenging. Enterprise artificial intelligence is not expected to help with incremental demand until 2026, the analyst tells investors in a research note. Susquehanna believes NetApp has gained market share, but says this is now reflected in the stock’s valuation.
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