Market Overview

UPDATE: ISI Group Upgrades VMware to Strong Buy on Raised CY13 Estimates

Related VMW
Analysts Mixed On EMC Corporation Rumor To Sell Stake In VMware, Inc.
EMC Corporation Exploring Possible Sale Of VMWare, Inc.
Old Tech is Cool Again Amid Frothy IPO Landscape (Fox Business)

In a report published Wednesday, ISI Group analyst Brian Marshall upgraded the rating on VMware (NYSE: VMW) from Buy to Strong Buy, and lowered the price target from $130.00 to $115.00.

In the report, Marshall noted, “In our view, the divergence gap between negative investor perception vs. reality on VMW has become too great to ignore. Accordingly, we are upgrading shares of VMW to a STRONG BUY (from BUY), raising our CY13 estimates and see ~50% upside to our $115 PT (or ~35x CY13 EPS). Investor concerns are overblown with respect to current server virtualization penetration (i.e., over 50%) and fail to recognize the significance of the ‘up-sell' opportunity of vCloud Suite (i.e., bundled mgmt/automation tools), in our view.”

VMware closed on Tuesday at $76.09.

Latest Ratings for VMW

DateFirmActionFromTo
Sep 2014Maxim GroupInitiates Coverage onBuy
Sep 2014MKM PartnersInitiates Coverage onBuy
Jul 2014CLSAUpgradesOutperformBuy

View More Analyst Ratings for VMW
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Upgrades Analyst Ratings

 

Related Articles (VMW)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters