- The shares of VMware, Inc. (NYSE: VMW) have received a $153 price target from Monness Crespi. These are the details.
The shares of VMware, Inc. (NYSE: VMW) have received a $153 price target from Monness Crespi. Monness Crespi analyst Brian White upgraded VMware to a “Buy” rating from a “Neutral” rating.
White pointed out that the company stock has been treading water since the end of 2017, not adjusting for the special cash dividend in November.
But White now believes the market will begin paying more attention to VMware’s unique value proposition in the cloud and its attractive valuation.
Plus White pointed out that VMware has invested in organic innovations, completed acquisitions, and signed cloud partnerships over the past few years that White sees laying the foundation for the next chapter. But a lot of this work has gone unappreciated.
White added that the pandemic was a catalyst for more organizations to appreciate the value of a multi-cloud strategy while also embracing the private cloud and the edge — which dovetails with VMware’s main focus areas of offering a cloud-native app platform, cloud infrastructure, and secure edge and anywhere workspace.
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