Citi Resumes VMware (VMW) at Buy

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”.

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 $143.74 yesterday.

You May Also Be Interested In

• Roth Capital Resumes Clene, Inc. (CLNN) at Buy, PT $10
• Marico Ltd (MRCO:LN) PT Raised to INR585 at JPMorgan
• Credit Suisse Assumes LyondellBasell Industries (LYB) at Outperform