Despite Near-Term Positives, NetApp’s Long-Term Prospects Look Bleak; Cutting FVE to $30
We have taken a fresh look into NetApp and we are cutting our fair value estimate by $16 to $30 per share, while maintaining a no moat rating. We are also changing our moat trend rating from negative to stable as we believe the company’s restructuring efforts have helped stabilize its market positioning while the firm’s primary addressable market is gravitating toward hybrid IT architecture rather than pure cloud deployment. With shares trading at a premium to our fair value estimate, we recomme...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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