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Fly News Breaks for February 14, 2019
NTAP
Feb 14, 2019 | 07:00 EDT
Loop Capital analyst Ananda Baruah lowered his price target on NetApp to $85 after its Q3 revenue miss, saying the company has hit a "speed bump: with a pause in spending by some large customers and the government. The analyst also keeps his Buy rating on NetApp, saying its 13-times forward earnings multiple continues to work for this "structural 5%-10% organic cloud grower". Baruah contends that given NetApp's "strategic" presence in both technology offerings and the marketplace, it is "one of the best positioned companies in Hybrid Cloud".
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