Market Overview

UPDATE: Oppenheimer Cuts PT to $100 on VMware on Disappointing Outlook

Related VMW
Ingram Micro Hits a 52-Week High - Analyst Blog
Morgan Stanley Sees Support for More Positive View on VMware
Cisco, Juniper Warn of 'Heartbleed' Bug in Network Products (Fox Business)

Oppenheimer reiterated its Outperform rating on VMware (NYSE: VMW) and lowered the price target from $110.00 to $100.00.

Oppenheimer noted, "VMW delivered a solid 4Q12 but issued below Street FY13 outlook, and announced a two-tiered realignment plan to allocate necessary resources to core areas such as SDDC, cloud, and end-user computing while de-emphasizing non-core (i.e. SlideRocket). New management believes it's the right time for this two-tiered alignment to capture long-term growth. This, coupled with below consensus guidance for FY13 could leave investors with a sour taste in their mouths. We'd buy the shares after the smoke clears as we still see room for top-line/EPS growth given conservative guidance."

VMware closed at $98.32 on Monday.

Posted-In: OppenheimerAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (VMW)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free