Nutanix price target raised to $90 from $83 at JPMorgan

JPMorgan raised the firm’s price target on Nutanix (NTNX) to $90 from $83 and keeps an Overweight rating on the shares. The company reported strong fiscal Q2 results, with all key metrics landing ahead of consensus expectations and above high-end of guidance, the analyst tells investors in a research note. The firm says the strength in the quarter was driven by continued solid new logo additions, for the third consecutive quarter. JPMorgan continues think that Nutanix “is in a position of strength today to prosecute a growing opportunity ahead with execution risk as the primary risk to the story at this point.”