As previously reported, BofA analyst Wamsi Mohan upgraded Nutanix (NTNX) to Buy from Neutral with a price target of $50, up from $39, as the firm sees fundamentals improving over the next few years and sees renewals driving a higher amount of ACV billings growth following FY24. The new “GPT-in-a-Box” offering, Cisco (CSCO) partnership and potential share gains are upside levers, says the analyst, who points to the company’s upcoming analyst day on Tuesday, September 26 as “the next catalyst.”
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