Nutanix price target raised to $78 from $72 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Nutanix (NTNX) to $78 from $72 and keeps an Overweight rating on the shares. Despite Federal weakness, Nutanix outperformed expectations on the top and bottom line in fiscal Q1, says the analyst, who cites strong operating discipline, free cash flow generation and traction with the VMware opportunity to support the firm’s Overweight rating.