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Fly News Breaks for November 27, 2019
VMW
Nov 27, 2019 | 07:07 EDT
BMO Capital analyst Keith Bachman raised his price target on VMware to $192 and kept his Outperform rating after its Q3 earnings beat and raised FY20 guidance, noting that the company continues to produce "solid results" with low-to-mid single digit bookings growth in spite of "mixed" on-premise spending. The analyst adds that while organic billings growth has decelerated, he sees VMWare's free cash flow multiple relative to its expected FY21 organic revenue growth rate as "attractive".
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