NetApp (NTAP): FY19 Looks Challenging, Reit Sell - Deutsche Bank

Deutsche Bank analyst, ,Sherri Scribner, reiterated her Sell rating on shares of NetApp (NASDAQ: NTAP) even though the company reported upside to F4Q-18 expectations and guided F1Q-19 in line, reiterating FY-19 sales expectations of mid-single-digit growth. However, the analyst is looking through near term results to FY 19 which appears more challenging.

The analyst stated "We admit that NTAP has had a good year, delivering on cost-cutting initiatives and returning
product sales to growth. However, as we move into FY-19, product sales compares get more challenging, FX benefits moderate, and NAND".

Due to the impact of the slight outperformance, the analyst raised her price target to $43 from $40.

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 $66.79 yesterday.

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