Loop Capital analyst Ananda Baruah kept his Buy rating and $60 price target on NetApp, saying its final Q1 earnings were "slightly better" than the negative pre-announcement for the quarter released earlier this month and the discussions featured "net positive" context. The analyst notes that the management offered greater detail about its plans to address the "exaggerated" revenue miss, adding that he continues to view the company as a "structural 5%-10% organic revenue grower." Once NetApp returns to mid-single-digit revenue growth, Baruah contends that the stock should trade at a forward earnings multiple between 13- and 15-times vs. its current valuation of 9.9-times.