FBN Securities Bullish On Nimble Storage Shares

Analysts at FBN Securities initiated coverage on Nimble Storage Inc. NMBL with an Outperform rating and $35 price target on Monday.

analysts see upside in shares of Nimble Storage for several reasons:

• Nimble Storages’ Cache Accelerated Sequential Layout offers greater performance and capacity efficiency that provides lower capital costs and substantially lower opex.
• International growth potential; the company is just starting to expand internationally where there is has ample room to grow.
• Nimble Storage is about to enter fibre storage market. The company is expected to roll out its first fibre channel arrays toward the end of fiscal year 2015.

Shares of Nimble Storage Inc. are currently trading at $28 up 4.2 percent