Fly News Breaks for June 6, 2019
Jun 6, 2019 | 07:34 EDT
Evercore ISI analyst Amit Daryanani started Dell Technologies (DELL) with an Outperform rating and $75 price target. In a research note to investors, Daryanani cited the company's comprehensive enterprise IT portfolio spanning from personal systems and data center solutions to cloud and infrastructure virtualization software through the company's ~80% ownership stake in VMWare (VMW) in addition to the stock's attractive valuation for the Outperform rating. While there is some level of investor concern surrounding the overall IT spend backdrop following a robust year of technology investments in calendar year 2018 and a "conglomerate discount," he thinks a mix of share gains in each of Dell's core markets, self-help levers., commodity tailwinds, and operational improvements will more than offset potential overhang from these trepidations. Longer term, the analyst sees $10+ EPS potential, which in an upside scenario, drives Dell stock higher toward the $75+ level.
News For DELL;VMW From the Last 2 Days
Jul 15, 2019 | 18:24 EDT
In an interview on CNBC's Mad Money, VMware COO of Customer Operations Sanjay Poonen said: We had a great quarter... We are in the golden age of software... We have focused on making the data center software driven... There is no one hardware player that is the majority of our business... Our view is always a long one and we have momentum across the board now... We allow the data center to look like a public cloud... We are not seeing the China tariffs impacting our business.