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Fly News Breaks for March 21, 2016
NTAP
Mar 21, 2016 | 07:30 EDT
Macquarie analyst Rajesh Ghai downgraded NetApp to Underperform and lowered his price target to $22 from $30. The analyst believes NetApp's core mid-range Enterprise installed base continues to be a target of of pure play Flash players but is also likely to be further exposed as Hyper Converged Infrastructure gains steam in 2016. Ghai down to believe topline concerns will be alleviated anytime soon, which will continue to pressure FY17 earnings below consensus estimates.
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