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Fly News Breaks for August 23, 2019
CBLK, PVTL, VMW
Aug 23, 2019 | 07:41 EDT
Barclays analyst Raimo Lenschow said he "fears VMware investors will continue to need patience in the near-term" despite the company's "healthy" Q2 results as it also confirmed the previously-discussed Pivotal (PVTL) transaction and took a major step into the security market with a deal to buy Carbon Black (CBLK). The move "seems to make sense," but investors will need time to understand the company's approach and vision, said Lenschow, who likes the long-term story at VMware (VMW) but lowered his price target on the shares to $178 from $190 as he assumes a lower multiple. He keeps an Overweight rating on VMware.
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