NetApp (NTAP) PT Raised to $200 at Argus

Argus analyst Jim Kelleher raised the price target on NetApp (NASDAQ: NTAP) to $200.00 (from $130.00) while maintaining a Buy rating.

The analyst comments "NetApp reported fiscal 4Q26 revenue and non-GAAP EPS that topped consensus estimates as artificial intelligence (AI) continues to drive storage demand. • NetApp initiated FY27 revenue and non-GAAP EPS guidance that is consistent with growth of 8% in sales and 11% in profit, both at midpoint. • Management earlier set three-year (FY25-FY27) guidance that anticipates an upper-single-digit increase in revenue and double-digit non-GAAP EPS growth on average. • Given signs of accelerating demand momentum in the age of AI, we are reiterating our BUY rating and raising our 12-month target price to $200 from $130."

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