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Fly News Breaks for May 23, 2019
NTAP
May 23, 2019 | 06:46 EDT
Goldman Sachs analyst Rod Hall removed NetApp from his firm's Conviction List but retains a Buy rating on the shares. He also lowered his price target for the stock to $75 from $81 following last night's fiscal Q4 results. NetApp reported "another weak quarter," driven by execution missteps as well as lengthening data center sales cycles and macro weakness, particularly in Europe, Hall tells investors in a research note. However, on the bright side, the company's Private Cloud revenues were solid, Cloud Data Services trends improved and the company raised its dividend by 20%, adds the analyst.
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