Pacific Crest Upgrades Nimble Storage (NMBL) to Overweight

Pacific Crest upgraded Nimble Storage (NYSE: NMBL) from Sector Weight to Overweight with a price target of $11.00.

Analyst Alex Kurtz comments "We estimate 50% of the company's bake-offs are against Dell/EMC and now believe Dell/EMC is pursuing an improved cost of sales model for the mid-market, which implies less direct touch for larger transactions, especially in the $100,000 to $250,000 range. These changes could enable Nimble to improve win rates in these larger deals, attract new channel partners and re-accelerate revenue growth toward 25%."

For an analyst ratings summary and ratings history on Nimble Storage click here. For more ratings news on Nimble Storage click here.

Shares of Nimble Storage closed at $8.12 Friday.

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