In recent trading, shares of NetApp, Inc. (Symbol: NTAP) have crossed above the average analyst 12-month target price of $75.28, changing hands for $75.31/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised. There are 18 different analyst targets within the Zacks coverage universe contributing to that average for NetApp, Inc., but the average is just that — a mathematical average.
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