Andrew Neff Upside Quotations

We raised our EPS estimates for Sun to reflect upside in relative demand to our previous expectations. Sun management indicated that demand trends were ahead of its expectations ... and that business halfway into the quarter was very strong across the board.

While we are very confident about the firm's underlying fundamentals ... Network Appliance's rich multiples require continued strong upside surprises and estimate increases, both of which are unlikely to happen near-term as the law of large numbers catches up with the company.

The stock's rich multiple requires continued strong upside surprises and estimate increases -- both of which are unlikely to happen near-term as the law of large numbers catches up with the company.