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Fly News Breaks for February 18, 2016
NTAP
Feb 18, 2016 | 10:25 EDT
Baird analyst Jayson Noland earlier today downgraded NetApp to Neutral from Outperform and lowered his price target for the shares to $27 from $35 following the company's "mixed" Q3 results. While the analyst believes NetApp is showing progress, he views the "challenging" macro environment and "competitive" Storage market as "meaningful" headwinds. Shares of NetApp are up 3% to $24.18 in early trading. This report replaces an earlier version that incorrectly stated Noland believes NetApp is not showing progress.
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