In a report published Thursday, Jefferies analyst Ross MacMillan reiterated a Hold rating on VMware VMW, but lowered the price target from $82.00 to $$75.00.
In the report, Jefferies noted, “Our recent channel survey (see: Virtualization Survey: Encouraging Results) suggest a decent 2Q13 and increased Y/Y license growth v 1Q13. In addition, CY13 growth expectations increased 2pp which gives us higher conviction in the 2H13 re-acceleration case. However, with around two thirds of workloads virtualized by end CY13 and other TAM opportunities unclear, we keep our Hold.”
VMware closed on Wednesday at $67.14.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
