Goldman Sachs Initiates Coverage on NetApp with Bullish Outlook

In a move highlighting confidence in the data storage specialist, analysts at Goldman Sachs have commenced coverage of NetApp Inc. with a Buy recommendation. The firm has set a price target of $128 per share, suggesting an approximate 19% upside from the recent trading level near $107.28. This optimistic stance is anchored on NetApp’s strategic positioning within artificial intelligence infrastructure and its leadership in the all-flash storage market.

The investment bank’s positive assessment follows a strong quarterly earnings report from NetApp. For its fiscal second quarter, the company posted earnings per share (EPS) of $2.05, comfortably surpassing the consensus estimate of $1.88. Revenue also exceeded expectations, coming in at $1.71 billion against a forecast of Read more...