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Fly News Breaks for June 21, 2017
VMW
Jun 21, 2017 | 07:50 EDT
As noted earlier, Stifel upgraded VMware to Buy from Hold. Analyst Brad Reback upgraded the stock based on what he calls "a series of strong earnings results" by the company. He says that the company's newer products have grown at "healthy" rates, while the decline of its core vSphere business has been less intense than feared. The firm's checks indicate that hybrid clouds are being adopted more quickly than expected, added Reback, who raised his target on the shares to $109 from $96.
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