Notable Upgrades: NetApp (NTAP), Apple (AAPL), Netflix (NFLX), NXP Semiconductors (NXPI), Blue Buffalo Pet Products (BUFF)

Analysts at Robert W. Baird are out with a report this morning upgrading shares of NetApp, Inc. (NTAP) with an ‘Outperform’ from ‘Neutral’ rating. The firm raised its price target for the company to $40 from $35, noting recent EMC-DELL tie-up has created an attractive situation for shares.

NetApp Inc. shares are currently priced at 23.79x this year’s forecasted earnings, which makes them rather expensive compared to the industry’s 13.52x earnings multiple. Ticker has a forward P/E of 12.27 and t-12 price-to-sales ratio of 1.64. EPS for the same period is $1.41.

In the past 52 weeks, shares of Sunnyvale, California-based company have traded between a low of $28.75 and a high of $43.67 and are now at $33.45.

Shares are down 18.36% since the beginning of the year.

Apple Inc. (AAPL) was reiterated an ‘Overweight’ by Morgan Stanley (MS) analysts on Monday. The broker also raised its price target on the stock to $162 from $155.

AAPL began trading this morning at $112.73 to currently trade 0.16% lower from Friday’s close of $112.12. On an intraday basis it has gotten as low as $111.84 and as high as $112.75.

Apple Inc. shares are priced at 12.95x this year’s forecasted earnings, compared to the industry’s 13.52x earnings multiple. The company’s current year and next year EPS growth estimates stand at 41.60% and 7.20%, respectively. AAPL has a t-12 price-to-sales ratio of 2.85. EPS for the same period registers at $8.65.

AAPL shares have declined 0.40% in the last 4 weeks and 10.37% in the past three months. Over the past 5 trading sessions the stock has gained 1.58%. The Cupertino Calif.-based company, which is currently valued at $638.42 billion, has a median Wall Street price target of $150.00 with a high target of $200.00.

Apple Inc. is up 12.89% year-over-year, compared with a 5.71% gain in the S&P 500.

Netflix, Inc. (NFLX) was reiterated as ‘Overweight’ with $135 from $125 price target on Monday by Morgan Stanley.

NFLX shares recently gained $0.80 to $114.13. In the past 52 weeks, shares of Los Gatos, California-based co. have traded between a low of $45.08 and a high of $129.29. Shares are up 71.85% year-over-year and 132.23% year-to-date.

Neflix will report Q315 results Oct. 14 after the market close.

NXP Semiconductors NV (NXPI) coverage was resumed on Monday by Morgan Stanley with an ‘Overweight’ rating and $115 target.

NXPI shares recently gained $1.48 to $88.80. The stock is up more than 35% year-over-year and has gained roughly 14% year-to-date. In the past 52 weeks, shares of semiconductor dutch company have traded between a low of $53.81 and a high of $114.00.

NXP Semiconductors NV closed Friday at $87.32. The name has a current market cap of $20.63 billion.

Blue Buffalo Pet Products, Inc. (BUFF) was raised to ‘Overweight’ from ‘Equal-Weight’ and it was given a $24 price target at Morgan Stanley on Monday.

BUFF is up $1.28 at $20.01 on normal volume. Midway through trading Monday, 711K shares of Blue Buffalo Pet Products Inc. have exchanged hands as compared to its average daily volume of 1.82 million shares. The stock has ranged in a price between $19.51 to $20.96 after having opened the day at $19.64, as compared to the previous trading day’s close of $18.73.

Over the past year, shares of Wilton, Connecticut-based company have traded between a low of $16.80 and a high of $28.80.

Shares are up yoy ; down 31.14% year-to-date.

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