Network Appliance Stock Retreats to Higher Ground

Network Appliance(NTAP Quote) shares took a beating Wednesday, losing 7% of their value after a sell-side note panned the stock on a day when most tech issues did poorly.

But the storage vendor's selloff may be the right medicine for an equity that even its fans were calling expensive.

"At $38, this stock was priced to perfection," said T. Rowe Price analyst Chirag Vasavada. "But as it pulls back, it looks more interesting," he said in an interview. Vasavada's company did not hold shares as of the latest filing period. ...