Nimble Storage to be boosted by new products, says RBC Capital After Nimble Storage reported stronger than expected results for its April quarter, RBC Capital thinks the results were solid. The firm expects the company's new products to boost its results going forward. It cut its price target on the shares to $45 from $56 to reflect lower multiples for companies with disruptive technologies, but keeps an Outperform rating on the stock.
EMC downgraded to Neutral from Overweight at Piper Jaffray Piper Jaffray downgraded EMC (EMC) to Neutral to Neutral saying the company is facing increasing pressure from next-gen storage vendors and public cloud providers. Piper notes that it continues to hear Pure Storage and other vendors such as Nimble Storage (NMBL) are making inroads into the installed base of EMC. It cut its price target for shares to $27 from $30. The firm also downgraded NetApp (NTAP) to Neutral this morning for similar reasons, but says EMC has a more defensible position than NetApp.