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Fly News Breaks for May 23, 2019
NTAP
May 23, 2019 | 08:59 EDT
Lake Street analyst Eric Martinuzzi downgraded NetApp to Hold from Buy and lowered his price target for the shares to $65 from $69. The company's Q4 miss and weaker than expected Q1 outlook, coupled with the cautious commentary from other data center players, "makes plain the enterprise storage market is tougher than it was a year ago," Martinuzzi tells investors in a research note. With his model now more back-half skewed, the analyst sees higher risk in shares of NetApp following last night's results.
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