NetApp falls after Susquehanna downgrades stock, cuts PT

NetApp

10/02/2025 12:01

** Data storage firm NetApp's  NTAP.O  shares fall ~2% to
$120.61 in premarket trading 
    ** Susquehanna downgrades NTAP to "neutral" from "positive",
slashes price target to $130 from $155 
    ** Brokerage says enterprise AI is not expected to help with
incremental demand until 2026
    ** "It simply takes time to get the data ready for AI
application within Enterprises. We view 2025 as a transition
year when Enterprises consolidate and optimize data lakes to
prepare for AI application in 2026," says Susquehanna
    ** 7 of 22 brokerages rate the stock "buy" or higher, 14
"hold" and 1 "sell"; their median PT is $136.5
    ** Stock had risen 31.7% in 2024

 (Reporting by Harshita Mary Varghese in Bengaluru)
 ((HarshitaMary.Varghese@thomsonreuters.com))