Citi Resumes VMware (VMW) at Buy
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Citi analyst Walter Pritchard resumes coverage on VMware (NYSE: VMW) with a Buy rating and a price target of $166.00 (from $138.00).
The analyst comments "Rapid progress in the VMC (VMW + AWS) roadmap as well as initial customer success suggests this offering can continue to ramp well from FY19 progress with lighthouse customers. Additionally, we see a number of opportunities with CSPs beyond AWS that should clearly cement VMW as “cloud relevant”. We see this helping support valuation, where there appears to be a clear delineation within our universe of cloud “winners” and “losers”.
Shares of VMware closed at $143.74 yesterday.
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