Nimble Storage Jumps 9% On Morgan Stanley Upgrade to Overweight

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Data Storage Devices, Nimble Storage, NMBL, Technology
Data Storage Devices, Nimble Storage, NMBL, Technology

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 company’s software and storage systems handle various mainstream applications, including virtual desktops, databases, email, collaboration, and analytics.

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