UPDATE: Morgan Stanley Initiates Coverage on Nimble Storage as Growth is Priced In

In a report published Tuesday, Morgan Stanley analyst Katy L. Huberty initiated coverage on Nimble Storage NMBL with an Equal-Weight rating. In the report, Morgan Stanley noted, “Nimble's flash-optimized storage solution leads legacy peers and has the opportunity to become a large, sustainable platform. The stock already prices in stronger revenue growth than we model, which we believe limits the near-term upside. Initiate at Equal-weight.” Nimble Storage closed on Tuesday at $42.95.