BMO Capital analyst Keith Bachman resumed VMWare with an Outperform rating and a lower price target of $170, down from $175 prior, based on the "modestly higher estimates, a lower cash balance due to the special dividend payment, and a higher assumed target multiple." The analyst believes that the company can deliver revenue growth rate of 12% this year, adding that investor concerns about slowing datacenter spending may be unwarranted. Bachman adds that he has "greater confidence" regarding the company's ability to "serve as the glue that binds the private and public clouds in a hybrid world."