NTAP has had a strong year, more than doubling on an annual basis and setting a new all-time record; Evercore ISI upgraded it to outperform with a $300 price target.

We have NetApp, the winning company in the S&P 500 index, as the second best performer. Yes, this stock has had a strong year, and it continues to build on its gains now with an increase of more than 2%.

We need to check if we're setting a new record here, as I know we've been keeping an eye on the records of several companies recently, such as Nvidia and yesterday AMD.

NetApp may be the hero of today's trading, with its shares more than doubling on an annual basis. Evercore ISI believes there is more room for improvement from here. She believes the upward trajectory can continue.

They upgraded the stock's rating from " market-like performance" to "outperform". They also raised the target price for the stock to $300. This is a significant increase from $210.

This means a potential rise of over 30% compared to yesterday's closing levels.

Why has Evercore become more optimistic at the moment? They see two main drivers: the continued strength of NetApp's current business, and broader AI deployments as companies move beyond the testing phase.

Indeed, we are setting a new all-time record right now. The view here is that growth may slow down by a smaller percentage than current forecasts indicate. The optimistic situation does not actually require a significant contribution in the near term from newer products.

The opportunity they see extends beyond data centers here. Evercore sees an opportunity in supporting NetApp's products and its public cloud business. In other words, the growth here is not limited to the existing customer base, but also to the expansion of AI workloads .

They believe that artificial intelligence is boosting demand for storage. All of this works in NetApp's favor here. We have actually seen a lot of different analyst opinions about this stock recently.

But again, this is the latest from Evercore ISI, and earlier this week TD Coin maintained its " buy" rating and raised its price target for NetApp, Nicole.

Yes, it looks great. It's good to see a record level of shareholders. The stock has risen from $70 a few years ago to $234 this morning.