NetApp guidance conservative, not cause for concern, says Piper Jaffray Piper Jaffray views NetApp's Q4 guidance as conservative and feels the outlook is not a cause for concern. Piper continues to believe NetApp’s branded revenue growth and gross margin expansion will outpace peers and keeps an Overweight rating on the stock with a $52 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.