Caris has raised its price target on VMware (VMW), the ultra-hot IPO, to $90. The shares trade at $78 now. Caris has a previous price target of $60, which must have been a bit humiliating.
According to MarketWatch, on August 20, RBC Capital sets $75 price target on VMware. It is hard to say how RBC can get out of that, unless they want to move their target up to $100.
VMW has to stop moving up soon. The pull of gravity is simply too great. The stock traded just above $51 after its IPO and have moved to about $80.
Douglas A. McIntyre
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