NetApp (NTAP) is expected to report Q3 earnings after the close Wednesday, February 13, with a conference call scheduled for 5:30 pm ET. NetApp provides storage systems and data management solutions for information technology infrastructures... EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $1.62B. The consensus range is 54c-58c for EPS on revenue of $1.6B-$1.66B, according to First Call... LAST QUARTER: NetApp reported Q2 EPS of 51c, which beat consensus expectations, on revenue of $1.54B, which matched matched analysts' average forecast. The company guided toward Q3 EPS of 53c-58c on revenue of $1.575B-$1.675B. The company also announced that it authorized an additional $1.5B for its share repurchase program... RESEARCH AND NEWS: In a note to investors Tuesday morning, Brean Capital analyst Ananda Baruah upgraded NetApp to a Buy rating from a Hold. Baruah said the company's product and customer momentum is shifting positively and set a $45.00 price target on NetApp shares. The day before, Piper Jaffray said its end-of-quarter checks suggest NetApp should report Q3 results in-line or modestly ahead of expectations, and the firm kept an Overweight rating and $38 price target on the stock. In late January, Barclays upgraded NetApp to Overweight, citing checks that indicated improving fundamentals and expanding margins. At that time Barclays raised its price target on shares to $45 from $36... PRICE ACTION: Since the day after last quarter's report, shares of NetApp have advanced nearly 28%. However, in afternoon trading ahead of tonight's report, NetApp is down over 1% to ~$35.