European Investor
10 Aug 2026, 14:11
NetApp Stock Jumps 6.3% After Morgan Stanley Upgrades NTAP to Equal Weight
NetApp (NASDAQ: NTAP) shares rose about 6.3% Monday after Morgan Stanley upgraded the data storage and cloud infrastructure company, providing a positive catalyst for the stock.
Morgan Stanley analyst Erik Woodring upgraded NetApp to Equal Weight from Underweight and raised the firm's price target substantially to $173 from $137.
The rating change represents a meaningful improvement in Morgan Stanley's outlook, although the new $173 target remains below NetApp's recent share price of approximately $199.47.
Morgan Stanley Takes a More Constructive View
The upgrade removes Morgan Stanley's previous bearish Underweight stance on NetApp, while the $36 increase in the price target represents a roughly 26% upward revision to the firm's valuation.
NetApp has increasingly attracted attention for its exposure to enterprise data infrastructure, cloud storage and AI-related workloads. Growing AI adoption is increasing the amount of enterprise data that needs to be stored, managed and accessed efficiently, potentially creating additional demand for storage infrastructure.
However, Morgan Stanley's Equal Weight rating suggests a more balanced rather than outright bullish view. At around $199, NTAP is still trading approximately 15% above the firm's new $173 target.
The reaction fits with continued investor interest in companies positioned to benefit from AI-driven data-center and enterprise infrastructure spending.
For now, the upgrade has strengthened sentiment toward NTAP, although the stock's price above Morgan Stanley's revised target suggests investors are already pricing in a more optimistic outlook than the firm's new valuation implies.
NetApp (NASDAQ: NTAP) shares rose about 6.3% Monday after Morgan Stanley upgraded the data storage and cloud infrastructure company, providing a positive catalyst for the stock.
Morgan Stanley analyst Erik Woodring upgraded NetApp to Equal Weight from Underweight and raised the firm's price target substantially to $173 from $137.
The rating change represents a meaningful improvement in Morgan Stanley's outlook, although the new $173 target remains below NetApp's recent share price of approximately $199.47.
Morgan Stanley Takes a More Constructive View
The upgrade removes Morgan Stanley's previous bearish Underweight stance on NetApp, while the $36 increase in the price target represents a roughly 26% upward revision to the firm's valuation.
NetApp has increasingly attracted attention for its exposure to enterprise data infrastructure, cloud storage and AI-related workloads. Growing AI adoption is increasing the amount of enterprise data that needs to be stored, managed and accessed efficiently, potentially creating additional demand for storage infrastructure.
However, Morgan Stanley's Equal Weight rating suggests a more balanced rather than outright bullish view. At around $199, NTAP is still trading approximately 15% above the firm's new $173 target.
The reaction fits with continued investor interest in companies positioned to benefit from AI-driven data-center and enterprise infrastructure spending.
For now, the upgrade has strengthened sentiment toward NTAP, although the stock's price above Morgan Stanley's revised target suggests investors are already pricing in a more optimistic outlook than the firm's new valuation implies.
