Drexel Hamilton Upgrades VMware (VMW) to Buy; Succession Plan Should Benefit Investors

Article Stock Quotes (2) Comments (0)

Drexel Hamilton upgraded VMware (NYSE: VMW) from Hold to Buy with a price target of $110.00.

Analyst, James Gilman, said, "Upgrade following the company’s announcement after market close yesterday pertaining to: 1. Executive leadership changes within its organizations as well as its parent company, EMC (NYSE: EMC)(NotRated) and to 2. Preliminary second quarter financial results."

"Although not specifically stated we believe the executive changes set up a possible CEO succession plan for EMC, which we think benefits investors...VMware also announced preliminary 2Q12 results that are ahead of expectations, which we think is exceptional given the currency headwind."

For an analyst ratings summary and ratings history on VMware click here. For more ratings news on VMware click here.

Shares of VMware closed at $80.29 yesterday, with a 52 week range of $74.69-$118.79.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: A.G. Lafley Gives Procter & Gamble (PG) Investors 'New Hope', UBS Upgrades to Buy
• CL King Upgrades Columbus McKinnon (CMCO) to Buy
• Hewlett-Packard (HPQ) Q2 Performance Wins Praise on Wall Street; Jefferies Raises to Hold

Create E-mail Alert Related Categories

Upgrades

Related Entities

Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?