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NetApp less likely to be acquired after Kissane hiring, says Wells Fargo

Wells Fargo said yesterday morning that the hiring of Jonathan Kissane as chief strategy officer makes it less likely NetApp (NTAP) will be acquired. Wells believes the hiring indicates NetApp is looking to grow bigger, and pointed out recent industry trends have moved in the direction of owning more of the entire stack. The firm said shares of Quantum (QTM) and Commvault (CVLT) are likely to rise given their potential as acquisition targets. Wells reiterated a Market Perform rating on NetApp, and continues to prefer its competitor EMC (EMC).