NetApp

Shares of NetApp (NTAP - Get Report)  advanced Monday after an analyst upgraded the cloud data services and data management giant.

NetApp's stock price added 4% to $54.06 after Susquehanna upgraded its outlook on the tech company's stock to positive from neutral.

Analyst Mehdi Hosseini also upgraded NetApp's price target to $75, from $54 previously, according to published reports.

The analyst sees a number of potential drivers for NetApp that could push up earnings by 10% through 2022.

NetApp's prospects are particularly promising in the fast growing all-flash array sector. AFA is a technology that uses flash memory in place of the spinning hard disks long typical of networked computer systems.

NetApp recently rolled out the NetApp EF600 storage array, which the company says will double "performance of currently available all-flash arrays that use the serial-attached SCSI (SAS) protocol," according to Data Storage News.

Hosseini, the Susquehanna analyst, contends NTAP is "in its early innings" in exploiting booming demand for all-flash array storage capabilities, Seeking Alpha reports.

The Sunnyvale, Calif., company also stands to gain new business as 5G infrastructure is rolled out, the report noted.