Evercore ISI upgrades NetApp to Outperform and lifts price target to $300
Evercore ISI raised its rating on NetApp (NTAP) from In Line to Outperform on October 7, 2026. The firm increased its price target to $300, up from $210, citing strong AI‑driven demand and a bullish outlook for fiscal 2027 revenue growth. The upgrade pushed the stock up about 1.5%‑1.6% in pre‑market trading, with the share price at $228.45. Analysts also noted the company’s high gross margins and potential double‑digit revenue growth.
Why it matters
Evercore’s upgrade signals confidence in NetApp’s growth trajectory, which may attract additional buying pressure and support the stock’s recent rally. The higher price target gives investors a new valuation reference point, but the stock remains significantly above the GF Value™ estimate, indicating limited upside if growth expectations are not met.
Key facts
- 1Evercore ISI upgraded NetApp to Outperform on October 7, 2026. investing.com
- 2The price target was raised to $300 from $210. investing.com
- 3NetApp’s share price was $228.45 at the time of the upgrade. investing.com
- 4The stock rose about 1.6% in pre‑market trading after the upgrade. gurufocus.com
- 5Evercore expects roughly 17% revenue growth for fiscal 2027, with first‑half growth around 26% and second‑half about 9%. investing.com
- 6Evercore projects gross margins in the high‑60% range and EBIT margins above 32% in fiscal 2027. investing.com
Summary written by AlphAI from 9 of 9 sources. Not investment advice. Figures are as stated by the linked sources.