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Fly News Breaks for May 24, 2018
NTAP
May 24, 2018 | 06:35 EDT
Loop Capital analyst Ananda Baruah kept his Buy rating and $85 price target on NetApp following its Q4 earnings but believes that shares can appreciate as high as $105 amid the "ongoing momentum in IT spending" along with growth acceleration by the company in the quarter. The analyst further contends that the guidance does not include the $4B share repurchase that the company announced at its Analyst Day, which could add about $1 in earnings per share.
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