Network Appliance "outperform," estimates raised

11/15/07 - Robert W. Baird

NEW YORK, November 15 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Network Appliance Inc (NTAP), while raising their estimates for the company. The target price is set to $35.

In a research note published this morning, the analysts mention that the company has reported its F2Q08 revenues and EPS ahead of the consensus. Network Appliance has issued its EPS and revenue guidance for F3Q at $0.33-$0.34 and $872-$883 million, respectively, ahead of the consensus. The EPS estimates for FY08 and FY09 have been raised from $1.12 to $1.22 and from $1.45 to $1.50, respectively.