UPDATE: Hilliard Lyons Initiates Coverage on VMware with Long-Term Buy Rating, $110 PT

In a report published Wednesday, Hilliard Lyons initiated coverage on VMware

with a Long-Term Buy rating and $110.00 price target. Hilliard Lyons noted, “We initiate coverage of VMW with a Long-term Buy investment rating, Suitability rating-3 and $110 price target. High priority, disruptive technology provider, tightly integrated solutions with majority owner EMC; VMware is the leading global provider of virtualization software. VMW has a history of delivering quality virtualization software through vSphere. Future growth is expected through cloud infrastructure and management software and a cloud application platform. VMW has an experienced management team, solid financials and a strong future that is set to achieve similar results in adjacent markets beyond core server virtualization, in our opinion.” VMware closed on Tuesday at $86.60.