Seeking Alpha

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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