Nimble Storage (NMBL) jumped higher following an upgrade to overweight from equalweight at Morgan Stanley on strength in new products and stable gross margins, among other assessments analysis included in a client note.
The rating lift comes with a price target of $38 per share suggesting an upside potential of 25% from current levels for this data storage device company.
NMBL is up 9.4% at $30.49 per share on 3 million shares, more than four times average daily volume. Shares continue to trade in the lower half of a 52-week price range of $19.17 – $58 per share.
Nimble Storage, Inc. provides flash-optimized hybrid storage platform. The companys software and storage systems handle various mainstream applications, including virtual desktops, databases, email, collaboration, and analytics.