Nutanix price target raised to $80 from $70 at JPMorgan

JPMorgan raised the firm’s price target on Nutanix to $80 from $70 and keeps an Overweight rating on the shares. Th firm is optimistic on the fundamentals of Nutanix based on solid positive feedback from a couple of key channel contacts, as well as an achievable expectations around numbers, but says the setup going into fiscal Q3 “is a bit tricky, with shares likely beholden to the expectations game in the near term.” The analyst thinks the demand environment for Nutanix continues to be robust, for the core existing customers as well as the emerging opportunities around VMware-related opportunities and the Cisco partnership.