The firm said it raised its rating on the company, which provides customers with data storage platforms, based on the end of the stock's lock-up expiration overhand, and the belief secular challenges in the storage market are not going to harm the company.
Nimble Storage stock also received a boost this morning following the $1.1 billion deal SanDisk Corp.
(SNDK) made to acquire the computer hardware and software company Fusion-io FIO as the deal has helped lift shares in the data storage sector.
Must Read: Warren Buffett's 25 Favorite Stocks
Other stocks rising on the news include NetApp Inc. (NTAP) up 1.01% to $36.02, and Violin Memory Inc. (VMEM) higher by 2.28% to $4.04 this morning.
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