Nutanix price target raised to $63 from $58 at Morgan StanleyBroadcom

Morgan Stanley raised the firm’s price target on Nutanix (NTNX) to $63 from $58 and keeps an Equal Weight rating on the shares. Reseller checks suggest that Broadcom’s (AVGO) acquisition of VMware is creating increased traction for Nutanix, which the firm estimates can contribute 2%-5% to revenue growth in coming years, the analyst tells investors. However, the pace of server refreshes and VMware license renewals are gating factors on the revenue opportunity, so the firm is left “waiting for a pullback,” the analyst added.