Will This Analyst Upgrade Help Nimble Storage (NMBL) Stock Today? (Update)

Update (9:35 a.m.): Updated with Wednesday market open information.

NEW YORK (TheStreet) -- Wunderlich upgraded Nimble Storage  (NMBL) to "buy" from "hold" and set a $38 price target. The firm noted the company's new system architecture has been gaining traction and the company can gain market share.

The stock was up 5% to $26.88 at 9:34 a.m. on Wednesday.

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