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VMware Stock Slides as Price Targets Lowered Following Spin-Off -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — On Wednesday Oppenheimer’s and RBC Capital analysts reduced the price targets for VMware Inc (NYSE.:) stock, just before a decline in shares. 

The session opened at $134.50 for VMware stock. However, the stock is down more than 2.5% at $131.42 in the closing minutes of session. 

Ittai Kidron, an Oppenheimer analyst, lowered VMware’s price target from $175 to $148. He maintained an outperform rating for the shares following its spinoff by Dell Technologies (NYSE:). While Kidron has lowered the price target of VMware, he remains positive about it and believes that there will be more flexibility through partnerships.

RBC Capital analyst Matthew Hedberg lowered VMware’s price target from $180 to $153, while maintaining an outperform rating. Hedberg, however, was optimistic about the spinoff even though its price target was lowered. He stated that it allows the company to expand its growth strategy.

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