BMO Capital Raises Price Target on Nimble Storage (NMBL) to $13 Following 2Q Beat
- Stock futures rise as flurry of deal activity boosts confidence
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Oil prices fall as Iraq resists joining output cut
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
BMO Capital reiterated an Outperform rating on Nimble Storage (NYSE: NMBL), and raised the price target to $13.00 (from $10.00), following the company's 2Q earnings report. Revenues and EPS of $97 million and ($0.19) were above consensus estimates of $95 million/($0.20). Guidance was consistent with consensus expectations.
Analyst Tim Long commented, "We believe Nimble’s entry into the AFA market is a game changer for the company and we expect the early success to continue. We continue to gain confidence in Nimble's ability to execute on its strategy, reaccelerate growth and drive operating leverage. Nimble continues to offer perhaps the best combination of growth and value of any stock in our coverage universe and we reiterate our Outperform rating on the shares."
Shares of Nimble Storage closed at $8.82 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Citizens Financial Group (CFG) Following 3Q EPS Beat
- H.C. Wainwright Downgrades Vertex (VRTX) to Neutral
- BMO Capital Remains Cautious on Bristol-Myers Squibb (BMY) Despite Decline; PT Lowered to $56
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!