Analysts: Google’s Cloud Isn’t Understood and 3 More Research Notes to Look Over

Google (NASDAQ:GOOG): RW Baird believes that Google’s cloud platform is uniquely positioned to become the next large player in the cloud services market, citing its application, platform, and infrastructure services. The firm believes the cloud platform is one of the least understood parts of the company, and could be potentially larger than YouTube. Shares are Outperform rated with a $1,000 price target.

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NetApp (NASDAQ:NTAP): Brean Capital raised its price target on NetApp to $50 from $43 following industry checks that indicate a strengthening storage demand environment. The firm cited the company’s aggressive allocation strategy and cash position, and rated the shares at Buy.

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Tesla Motors (NASDAQ:TSLA): Lazard Capital has downgraded Tesla to Neutral from Buy citing a less compelling risk-reward ratio given the recent rallies in shares. The firm believes Tesla’s valuation is factoring into the company’s evolution into one of the most profitable luxury auto manufacturers.

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Applied Materials (NASDAQ:AMAT): Stifel expects Applied Materials to report roughly in-line third-quarter results, but the firm expects the company to benefit from the adoption of many new process technologies over the longer term as well as recent pickups in memory capex spending. It keeps a Buy rating on the stock.

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