Nimble Storage (NMBL) Hits Another Milestone with Long-Awaited Fibre Channel Support, Needham & Company Says

Needham & Company analyst Richard Kugele reiterated a Strong Buy rating and $36 price target on Nimble Storage (NYSE: NMBL) after long-awaited support for Fibre Channel was announced.

Kuegel commented, "With long-awaited support for Fibre Channel announced, Nimble has achieved yet another milestone as it continues to execute on its medium-term post-IPO roadmap. While the announcement was widely expected, FC support does expand the company’s TAM to the rest of the mid-range/entry-level enterprise not already addressed, and eliminates what had been an often-cited competitive talking point."

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 $27.45 yesterday.

You May Also Be Interested In

• Morgan Stanley Upgrades Macquarie Group Ltd. (MQG:AU) (MQBKY) to Overweight
• TScan Therapeutics (TCRX) Launches $125 Million Proposed Public Offering of Common Stock, Warrants
• Intra-Cellular Therapies (ITCI) Prices Public Offering of Common Stock