Fly News Breaks for March 2, 2020
Mar 2, 2020 | 18:59 EDT
Jefferies analyst Brent Thill lowered the firm's price target on VMware to $175 from $190 after its Q4 earnings miss and below-consensus guidance last week but keeps a Buy rating on the shares. The analyst says the company "significantly underperformed" year-to-date and its sentiment has been impacted by uncertainty by the license sales and execution challenges that were raised on the call. However, Thill believes that these issues could be settled in a couple of quarters, adding that investors would not be "paying much" for VMWare's potential upward inflection in metrics.
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