NetApp downgraded at Morgan Stanley As previously reported, Morgan Stanley downgraded NetApp to Underweight from Equal Weight. The firm downgraded shares citing challenges from the cloud, competition, and margin compression. The firm lowered FY15 estimates below the Street and established a $31 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.