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Fly News Breaks for April 20, 2016
VMW
Apr 20, 2016 | 08:03 EDT
Cowen noted VMware reported better than expected Q1 revenue and earnings and announced a large stock buyback earlier than expected. With shares trading at the most depressed valuation in the infra software space, the stock deserves to move higher following the report, Cowen contends. The firm reiterated its Outperform rating and raised its price target to $61 from $60 on VMware shares.
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