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Fly News Breaks for March 23, 2018
NTAP
Mar 23, 2018 | 05:21 EDT
Piper Jaffray analyst Andrew Nowinski raised his price target for NetApp to $72 saying the Street is underestimating the growth potential of the company's Strategic segment. After meeting with Jeff Baxter, Chief Evangelist of the ONTAP Software and Systems Group, Nowinski raised his revenue, gross margin and operating margin estimates. He also believes NetApp will raise its dividend yield to 2.5%-3.0%, using cash from offshore. The analyst reiterates an Overweight rating on the shares.
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