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Fly News Breaks for February 6, 2020
VMW
Feb 6, 2020 | 05:10 EDT
Bernstein analyst Mark Moerdler upgraded VMware to Outperform from Market Perform with a price target of $181, up from $171. The analyst increased his revenue and earnings expectations above consensus after breaking down each of the company's businesses and growth potential. While he continues to have long-term concerns, he believes that the downside risks are baked into VMware's stock price while the upside opportunities are not. As such, Moerdler expects VMware earnings to outperform expectations.
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