NetApp checks show demand tracking in-line or better, says Piper Jaffray Piper Jaffray said its mid-quarter channel checks indicate NetApp demand is tracking in-line to slightly better than expected. Piper continues to believe NetApp is positioned for a beat and raise quarter and reiterates an Overweight rating on the stock with a $41 price target.
EMC downgraded to Neutral from Overweight at Piper Jaffray Piper Jaffray downgraded EMC (EMC) to Neutral to Neutral saying the company is facing increasing pressure from next-gen storage vendors and public cloud providers. Piper notes that it continues to hear Pure Storage and other vendors such as Nimble Storage (NMBL) are making inroads into the installed base of EMC. It cut its price target for shares to $27 from $30. The firm also downgraded NetApp (NTAP) to Neutral this morning for similar reasons, but says EMC has a more defensible position than NetApp.