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Fly News Breaks for November 14, 2019
NTAP
Nov 14, 2019 | 09:47 EDT
Loop Capital analyst Ananda Baruah raised his price target on NetApp to $70 and kept his Buy rating after its "very solid" Q2 results with a strong earnings beat. The analyst maintains his view of the company as a "structural 5%-10% organic revenue grower" and sees his target of $4.80 in FY21 - vs. $4.56 consensus - as "very achievable". Baruah adds that when NetApp returns to mid-single-digit revenue growth, he sees its forward earnings multiple in 13- to 15- times range.
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