Raymond James upgraded Nutanix (NTNX) to Outperform from Market Perform with a $72 price target. The firm says it has gained a better appreciation for Nutanix’s opportunity to gain share from VMware following its acquisition by Broadcom (AVGO). Broadcom’s efforts to improve growth and performance for VMware have led to bundling and higher than expected price hikes, which will lead some customers to seek alternatives in certain instances from Nutanix, the analyst tells investors in a research note. Raymond James increased estimates and upgraded Nutanix.
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