RBC Capital raised the firm’s price target on Nutanix (NTNX) to $47 from $43 and keeps an Outperform rating on the shares. The company’s Investor Day presentation has left the firm with a better sense of its strategic vision, including secular tailwinds around hybrid multi-cloud and generative AI, a refined go-to-market framework, partnerships with Cisco (CSCO) and cloud providers like AWS and Azure, and a displacement opportunity from VMware (VMW), the analyst tells investors in a research note. The firm is also raising its FY25 EPS view on Nutanix to $1.32 from $1.05.
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