Susquehanna analyst Mehdi Hosseini issued a double-upgraded of Nutanix (NTNX) to Positive from Negative, saying that after a 60% correction in its stock price from early 2018 highs, the worst for the company's transition to a subscription model may be in the past. The analyst notes that the new model sets up an "attractive and predictable" recurring revenue and billing stream, also raising the price target on the stock to $45 from $23. Hosseini further states that he is less concerned about the competitive dynamic and believes that Nutanix can "coexist" with VMware (VMW).