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Pivotal Research initiates NetApp coverage

Nov. 16, 2017 7:56 AM ETNetApp, Inc. (NTAP) StockNTAPBy: Brandy Betz, SA News Editor
  • Pivotal Research Group initiates NetApp (NASDAQ:NTAP) at Hold with a $54 price target after earnings.
  • Firm says product and operation improvements will likely stay, but the company remains vulnerable to emerging competition. 
  • Pivotal isn’t looking for “implosion” anymore. Sees attractive growth in the next two quarters with concern for what comes after those quarters. 
  • In another analyst action, BMO Capital Markets upgrades NetApp from Market Perform to Outperform. 
  • NetApp shares are up 12.7% premarket.  
  • Previously: NetApp +4.3% after Q2 beats, upside guidance (Nov. 15)

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