BMO Capital analyst Keith Bachman raised the firm’s price target on VMware to $160 from $140 but keeps a Market Perform rating on the shares. The company’s Q2 results were “mixed” with billings, total revenues, and free cash flow that missed the firm’s estimates, while operating margins exceeded its target and subscription and SaaS ARR growth accelerated by a healthy amount from last quarter, the analyst tells investors in a research note. VMware must address numerous challenges as it continues its business transition to subscriptions and extends further into the cloud, BMO added.
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Read More on VMW:
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