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Fly News Breaks for February 28, 2020
Feb 28, 2020 | 06:44 EDT
KeyBanc analyst Alex Kurtz lowered the firm's price target on VMware to $172 from $186 and keeps an Overweight rating on the shares to reflect increased conservatism related to macro risks. VMware delivered solid Q4 billings growth of 12% y/y vs. consensus of 8% y/y, driven in large part by strong growth in the newly categorized Sub and SaaS product segments, which grew 52% y/y, the analyst tells investors in a research note.
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