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NetApp, Inc. Message Board

  • noosoupforyou noosoupforyou Sep 15, 2010 1:46 PM Flag

    Opinions That Matter

    NTAP is on the way UP.
    See you shorts at around 54 when it's time to cover.

    Schwab -- Buy
    Ned Davis Research -- Buy
    Argus -- Hold
    S&P Opinion – Hold
    Reuters Research -- Outperform
    Market Edge Second opinion -- Long

    Good luck to all.

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    • I don't know if it was intentional or not but you failed to mention that S&P has a $40, that's right $40 price target which they just put out on 8/23/10.

      • 1 Reply to suzymac89
      • Unintentional - I was simply using their 'rating'. Here's the explanation (dated 9/11/10) - I don't claim to understand every detail (in fact, I don't understand most of it!) NTAP has been very good to me and I hope it continues. It doesn't look like a SHORT candidate here.
        ---------
        "S&Ps HOLD recommendation is based mostly on valuation, following recent price appreciation. We think NTAP's fundamentals remain strong. Despite the financial crisis in Europe, we expect demand for data storage to remain robust due to the severity of the decline during the downturn. In addition to a modest economic recovery, we believe demand will be driven by growth of content digitization, such as record retention for compliance with government regulations. We think NTAP will gain market share with new products and stronger distribution partnerships. Our 2-month target price of $40 is based on a blend of our discounted cash flow (DCF) and enterprise value (EV)-to-sales analyses. Our DCF model assumes a weighted average cost of capital of 12% and 3% terminal growth, and yields an intrinsic value of $40.We apply an EVto-sales multiple of 2.4X, near the company's historical average, to our FY 11 sales estimate of $4.8 billion and derive a same $40 valuation."

 
NTAP
35.53-0.51(-1.43%)11:13 AMEDT

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