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."