VMware (VMW) Research Calls
September 24, 2007 by Douglas A. McIntyreThis morning, several brokerages put out research calls on VMware (VMW), the immensely popular EMC (EMC) spin-out.
UBS started the company as a "buy". Bank of America started VMW at "neutral" with a &75 price target.
Wachovia began VMW as "market perform". Citi started the company as a "buy" with a $100 price target. Deutsche Bank started it as "hold". Credit Suisse began coverage with "neutral" and an $85 price target.
Merrill started the company as "neutral." JP Morgan opened coverage with an "overweight": rating.
VMW currently trades just below $80, and is up about 55% since its IPO.
The ratings are a sign that most Wall St. firms think that VMware’s price has hit its peak, and, perhaps, that it has run too far too fast. It may take another quarter or two or results to demonstrate that the shares deserve to go any higher.
Here was what we noted as the quiet period was ending.
Douglas A. McIntyre
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