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Northland downgrades Nutanix on Red Hat getting more aggressive

Northland downgraded Nutanix (NTNX) to Market Perform from Outperform with a $76 price target Red Hat is playing for VMWare customers using its brand strength with respect to “modern applications,” whereas Nutanix is more aligned with migrating VMWare customers that are more likely to be entrenched with “traditional applications,” says the analyst, who sees risk the VMWare tailwind is not as strong as anticipated due to Red Hat becoming more aggressive on capturing customer migrations.

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