J.P. Morgan Maintains Underweight on BMC Software

J.P. Morgan is out with its report today on BMC Software BMC, maintaining Underweight. In its report, J.P. Morgan writes, "We are Underweight shares of BMC because we believe current valuations assume overly optimistic growth in cash flow based on outsized growth in the ESM business. We believe the current stock price implies a positive inflection point to free cash flow growth of about 7%, which we view as improbable." J.P. Morgan maintains a $34 PT on BMC. At the time of posting, shares of BMC were trading pre-market at $37.84, down 2.02% from Wednesday's close.
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Posted In: Analyst ColorReiterationAnalyst RatingsJ.P. Morgan
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