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Fly News Breaks for August 16, 2018
NTAP
Aug 16, 2018 | 09:17 EDT
DA Davidson analyst Mark Kelleher raised his price target on NetApp to $100 after its better than expected Q1 results, driven by product revenue growth coming from all flash array business as well as the $60M in enterprise license agreements not included in the initial guidance. The analyst also keeps his Buy rating on NetApp, remaining positive on the company's execution of realignment into the Flash storage system market. Kelleher added that the headwind of the company's mature products is moderating while its growth products offer a strong revenue tailwind.
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