Nutanix price target raised to $60 from $42 at Wells Fargo

Wells Fargo raised the firm’s price target on Nutanix to $60 from $42 and keeps an Equal Weight rating on the shares. The firm notes Nutanix delivered another solid quarter, building execution momentum and driving leverage via renewal strength. Excitement over VMware opportunity remains a key focus, but benefits likely to be gradual and VMware response remains a question, Wells adds.