Cantor Fitzgerald Downgrades NetApp (NTAP) to Hold
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Price: $38.98 -1.04%
Rating Summary:
17 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
17 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade NTAP Now!
Cantor Fitzgerald downgraded NetApp (NASDAQ: NTAP) from Buy to Hold with a price target of $38.00 (from $38.00).
“Longer-term, a return to the historical fundamental profile remains a possibility that could drive positive estimate and multiple revisions,” said analyst Paul Mansky.
“However, with indications pointing to broadening softness, . . . channel checks point to continued challenges in enterprise throughout July, spreading into previously healthy verticals," he added.
For an analyst ratings summary and ratings history on NetApp click here. For more ratings news on NetApp click here.
Shares of NetApp closed at $32.98 yesterday, with a 52 week range of $27.79-$46.80.
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“Longer-term, a return to the historical fundamental profile remains a possibility that could drive positive estimate and multiple revisions,” said analyst Paul Mansky.
“However, with indications pointing to broadening softness, . . . channel checks point to continued challenges in enterprise throughout July, spreading into previously healthy verticals," he added.
For an analyst ratings summary and ratings history on NetApp click here. For more ratings news on NetApp click here.
Shares of NetApp closed at $32.98 yesterday, with a 52 week range of $27.79-$46.80.
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