UPDATE: JPMorgan Downgrades NetApp (NTAP) to Neutral

February 14, 2019 12:28 AM EST
Get Alerts NTAP Hot Sheet
Price: $79.60 +0.75%

Rating Summary:
    24 Buy, 25 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - February 14, 2019 3:30 AM EST)

(updated to add analyst comment)

JPMorgan analyst Paul Coster downgraded NetApp (NASDAQ: NTAP) from Overweight to Neutral with a price target of $75.00 (from $80.00).

The analyst steps to the sidelines citing a belief that investors are going to keep the equity range bound until HPE and DELL release earnings which may or may not confirm a slowdown in storage spending (or perhaps reveal competitive pressures to NTAP.) He continues to believe the equity is under-valued but decides to step aside to await further visibility.

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 $67.35 yesterday.

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