J.P. Morgan positive on VMware in coverage reinstatement

|By:, SA News Editor

Following July reinstatements at Morgan Stanley and Citigroup, J.P. Morgan resumes coverage on VMware (NYSE:VMW) with an Overweight rating and $90 price target (current price $74.34).

Analyst Mark Murphy: "Our most recent survey work foreshadowed an improvement prior to Q2 earnings as VMware partners grew their practices in the double digits, representing an uptick from prior quarters of single-digit growth."

Further notes an approximately 35% lower valuation than competitors of around 10x EV/OCF, indicating it the most appealing in the space.

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