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Fly News Breaks for July 8, 2019
NTNX, PSTG, HPE, DELL, NTAP
Jul 8, 2019 | 05:26 EDT
Citi analyst Jim Suva downgraded NetApp (NTAP) to Sell from Neutral and lowered his price target for the shares to $55 from $67. The competitive landscape with Dell (DELL) against the slowing macro environment adds more pressure to the company, Suva tells investors in a research note. The analyst says he's picked up recent competitive pressures against NetApp by Dell, Hewlett-Packard Enterprise (HPE), Pure Storage (PSTG) and Nutanix (NTNX). As a result, Suva expects share and margin pressures for NetApp.
News For NTAP;DELL;HPE;PSTG;NTNX From the Last 2 Days
DELL
Apr 18, 2024 | 21:58 EDT
UBS raised the firm's price target on Dell Technologies to $141 from $113 and keeps a Buy rating on the shares. The firm contends that global AI related servers should increase 48% and 21% in 2024 and 2025 respectively, directionally acting as a tailwind for Dell's Infrastructure Solution Group / Server business despite sluggish legacy enterprise demand, the analyst tells investors in a research note. UBS adds however that it reduces its FY25 Client Solutions Group segment revenue forecast lower by 3.4% due to a slower PC recovery.
DELL
Apr 18, 2024 | 08:01 EDT
NTAP
Apr 17, 2024 | 13:16 EDT
Bearish flow noted in NetApp with 1,299 puts trading, or 2x expected. Most active are 4/26 weekly 98 puts and 4/26 weekly 97 puts, with total volume in those strikes near 830 contracts. The Put/Call Ratio is 2.39, while ATM IV is up over 1 point on the day. Earnings are expected on May 30th.
