This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NetApp Climbs After Analyst Upgrades Stock

SAN FRANCISCO (AP) ¿ Shares of NetApp Inc. rose Monday after an RBC Capital Markets analyst upgraded the data storage company's stock to "Outperform," saying checks indicate its revenue in the current quarter is higher than expected.

NetApp shares gained 98 cents, or 3.8 percent, to $26.87 in afternoon trading.

In a client note, RBC analyst Amit Daryanani raised his rating for the stock from "Sector Perform" and increased his price target to $33 from $26.

Daryanani said that better-than-expected revenue should mean that the company can beat estimates for the October quarter, which is its fiscal 2010 second quarter, and give guidance for a better-than-expected fiscal third quarter, too.

Analysts polled by Thomson Reuters expect $861.8 million in revenue for the current quarter, on average, and $893.7 million for the next.

Daryanani also said that the company may benefit from the impact of foreign exchange.

"We view NTAP as an attractive way for mid/large cap investors to play the anticipated IT spending recovery in (the second half of 2009)," he said.

The analyst added that he expects the company to "exude a positive business tone" during its analyst day in New York on Oct. 8.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NTAP $22.38 1.54%
AAPL $94.27 -0.76%
FB $101.00 1.47%
GOOG $684.12 0.89%
TSLA $143.67 -3.09%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs