Market Overview

UPDATE: Citi Upgrades VMware

Share:

In a report published Thursday, Citi analyst Walter Pritchard upgraded VMware (NYSE: VMW) to Buy from Neutral, raising its price target to $120.00 from $87.00.

According to the report, the upgrade follows a stable, upward bias to estimates and unassuming valuation leave a good set-up, even though stock has participated in recent rally.

“Our checks with resellers, recent survey work as well as deeper modeling suggest 2H13 growth trends remain sustainable into 1H14,” the report noted. “ELAs cycle appears more diffused than we estimated, while vSphere capacity / pricing is stable and vCloud management tools penetration is still low, but improving. Lastly, hiring plans in S&M look bullish. All of this supports accelerating double-digit growth in 2014.”

VMW closed Wednesday at $100.92 with shares trading up at 2.63 percent.

Latest Ratings for VMW

DateFirmActionFromTo
Oct 2019MaintainsOverweight
Oct 2019MaintainsEqual-Weight
Oct 2019AssumesBuy

View More Analyst Ratings for VMW
View the Latest Analyst Ratings

Posted-In: Citi Walter PritchardAnalyst Color Upgrades Analyst Ratings

 

Related Articles (VMW)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
WEEDMKM PartnersMaintains30.0
NKTRH.C. WainwrightMaintains32.0
DISCARosenblattMaintains33.0
GOODNational SecuritiesInitiates Coverage On25.0
XOGCitiDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Stocks Hitting 52-Week Lows

Morning Market Losers