Fly News Breaks for October 1, 2019
Oct 1, 2019 | 06:29 EDT
Wells Fargo analyst Philip Winslow upgraded VMware to Outperform from Market Perform and raised his price target for the shares to $180 from $140. Investors have been concerned that growing interest in deploying containerized applications into Kubernetes-centric environments will eventually reduce customer demand for VMware's virtualization-centric product portfolio, Winslow tells investors in a research note. The analyst, however, believes the recent acquisitions of Bitnami, Heptio, and Pivotal Software, combined with the release of VMware Tanzu, positions VMware to emerge as the leader in the market for Kubernetes-based, multi-cloud platform solutions. He believes VMware can sustain double-digit revenue growth for at least the next five years versus consensus expectations for a deceleration in growth to 10.0% in fiscal 2021 and 8.5% in fiscal 2022.
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