Will This Price Target Increase Help NetApp (NTAP) Stock Today?

Story updated at 9:55 a.m.to reflect market activity.

NEW YORK (TheStreet) -- Cantor Fitzgerald raised its price target for NetApp (NTAP) to $47 from $45 Wednesday, reiterating its “buy” rating for the stock.

Shares of NetApp gained 2.9% to $40.44 in morning trading.

The analyst firm also raised its EPS estimates for the company. NetApp management is performing well, and the company has “a slightly improved spending environment with larger deal sizes,” according to analyst Brian J. White.

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Separately, TheStreet Ratings team rates NETAPP INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NETAPP INC (NTAP) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, notable return on equity and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

NTAP ChartNTAP data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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