Nimble +8.1%; Morgan Stanley upgrades following management talks

Morgan Stanley's Katy Huberty has upgraded Nimble Storage (NMBL) to Overweight, and also hiked her revenue estimates above consensus. Her PT is at $38.

Recent talks with management suggested new products will boost Nimble's enterprise penetration, that the company's moat is "intact and sustainable," and that its gross margin remains stable.

Piper and William Blair have noted the pending arrival of Fibre Channel support could boost Nimble's enterprise uptake; the company heavily depends on SMBs for now. Blair also sees adoption of Nimble's scale-out storage software boosting its enterprise fortunes.

Macquarie and Raymond James have already upgraded Nimble following its June 11 lockup expiration.

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