JPMorgan analyst Mark Murphy upgraded Nutanix (NTNX) to Neutral from Underweight and raised his price target for the shares to $54 from $39. The analyst's latest round of Nutanix checks and his latest VMware (VMW) survey suggest a "strong demand environment" for hyperconverged infrastructure. Nutanix is the leader in this space, Murphy tells investors in a research note titled "Upgrading to Neutral: Robust Partner Feedback Highlights Strong Demand Environment." He expects to see a "strong healthy quarter" from Nutanix, especially in terms of bookings. Murphy believes the stock offers a balanced risk/reward at current share levels.