Deutsche Bank: Lowered NetApp(NASDAQ:NTAP) target price to $70 from $74

Deutsche Bank lowered its price target on NetApp(NASDAQ:NTAP) to $70 from $74 and maintained its buy rating on the stock. The analyst told investors in a research note that the company’s revenue in the fiscal third quarter was at the low end of guidance due to weak incremental demand from large and ultra-large enterprises, but large spending cuts drove earnings growth. The analyst believes NetApp’s risk/reward is attractive.

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