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Fly News Breaks for February 14, 2019
NTAP
Feb 14, 2019 | 09:05 EDT
Lake Street analyst Eric Martinuzzi lowered his price target for NetApp to $69 saying a slowdown in January drove a revenue miss and conservative guidance. Customers slowed purchasing due to macro uncertainty, Martinuzzi tells investors in a post-earnings research note. The analyst believes that while the next six months present challenges, flash, private cloud, and cloud data services position NetApp for revenue reacceleration in fiscal 2020. He keeps a Buy rating on the shares.
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