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Fly News Breaks for May 26, 2016
NTAP
May 26, 2016 | 09:05 EDT
JPMorgan analyst Rod Hall says NetApp last night reported another disappointing quarter and guidance as the company continued to see product revenue declines. The company, however, guided for better than expected FY'17 margins and targets revenue growth in FY18, Hall tells investors in a post-earnings research note. The analyst reiterates an Underweight rating on the shares with a $17 price target, citing the uncertain macro environment, competitive storage market and "significant" execution risks.
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