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Fly News Breaks for May 23, 2019
NTAP
May 23, 2019 | 06:15 EDT
Piper Jaffray analyst Andrew Nowinski lowered his price target for NetApp to $75 from $81 after the company's fiscal Q4 results and Q1 guidance came in below expectations. Management noted a slowdown in large enterprise deals while the company reported "disappointing" all-flash growth of just 11%, Nowinski tells investors in a post-earnings research note. Nonetheless, management still expects revenue growth of mid-single digits in fiscal 2020, adds the analyst. He reiterates an Overweight rating on NetApp.
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