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NetApp -4.1% premarket as Goldman turns bear

|About: NetApp, Inc. (NTAP)|By: , SA News Editor

NetApp (NASDAQ:NTAP) sinks 4.1% in premarket trading after Goldman double-cuts the stock to sell from buy, as analyst Rod Hall sees NetApp's outlook as "hard to achieve."

Cuts price target to $45 from $61; average price target is $53.04.

Hall sees challenges for NetApp achieving its outlook in "an environment where large enterprise spending appears to be deteriorating further."

Compares with Quant rating of Neutral; before this action, Sell-Side average rating was Hold (6 Buy, 2 Outperform, 18 Hold, 2 Underperform, 2 Sell).

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