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Fly News Breaks for December 7, 2016
NTAP
Dec 7, 2016 | 08:12 EDT
As previously reported, Credit Suisse downgraded NetApp to Underperform from Neutral and lowered its price target to $29 from $31. Analyst Kulbinder Garcha believes the storage market is in a low growth environment due to shifts towards the public cloud and NetApp's share is under pressure from smaller rivals. Garcha expects cash flow to come down as earnings are under pressure and remains concerned with gross margin trends.
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