VMW - VMware's Business Transition: Analyst Sees Potential In Broadcom Acquisition For Shareholder Value | Benzinga

BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on VMware, Inc. (NYSE: VMW), raising the price target to $160 from $140.

Bachman identified numerous challenges the company must address as it continues its business transition to subscriptions and extends further into the cloud.

The analyst believes VMW's core business will continue to drive its financial model.

VMW reported a Q2 FY24 revenue increase of 2% Y/Y to $3.41 billion, missing the consensus of $3.46 billion. Subscription and SaaS revenue increased 34% Y/Y to $1.26 billion. Subscription and SaaS ARR were up Full story available on Benzinga.com