JPMorgan downgraded Nutanix (NTNX) to Neutral from Overweight with a price target of $44, down from $55. The company’s investor day brought a detailed long-term outlook but with limited near-term visibility, the analyst tells investors in a research note. JPMorgan says the choice of fiscal 2029 for medium-term targets served to highlight Nutanix’s limited visibility near-term in a choppy macro backdrop. The firm now thinks improvement in the company’s fundamentals will take more time.
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Read More on NTNX:
- Nutanix downgraded to Neutral from Overweight at JPMorgan
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