Nutanix initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Nutanix (NTNX) with an Outperform rating and $80 price target The firm says its bullish stance is predicated on the view that Nutanix is a beneficiary of the industry demand shift toward hyper-converged Infrastructure. The company has an opportunity to successfully displace key competitor VMware, which is facing customer resistance to its recent price hikes, the analyst tells investors in a research note. Opco thinks Nutanix can capitalize on demand for unstructured data for building and delivering artificial intelligence applications.