Drexel Hamilton Raises Price Target on VMware (VMW) Following 3Q
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Drexel Hamilton reiterated a Buy rating on VMware (NYSE: VMW), and raised the price target to $90.00 (from $85.00), following the company's 3Q earnings report. VMware reported non-GAAP sales of $1.778 billion that beat the Street at $1.763 billion. Pro forma EPS of $1.14 beat the Street's $1.10. Management expects 4Q revenue of $1.965-2.015 billion (Street is at $1.956 billion) and EPS of $1.37-1.41 (Street is at $1.37).
Analyst Brian White commented, "Last night, the recovery at VMware continued with a stronger than expected 3Q:16 performance and a better than anticipated 4Q:16 outlook. As such, we are adjusting our revenue and EPS estimates higher, while raising our price target to $90.00 from $85.00."
Shares of VMware closed at $73.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
- Oppenheimer Raises Price Target on CarMax (KMX) to $72 Ahead of 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Drexel Hamilton, Brian White
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!