4 big analyst cuts: VMware trimmed as Broadcom buyout enters home stretch
Monness, Crespi, Hardt downgraded VMware to Neutral from Buy ahead of the company’s Q2/24 earnings on Thursday.
The firm highlighted VMware's stock performance during the 2022 tech decline and its continued growth this year, citing"a modest valuation for a software stock, a unique value proposition in the cloud, an attractive margin profile," and support from the pending deal with Broadcom . But"given that the acquisition by Broadcom appears to be in the home stretch," said the firm, it is now moving to the sidelines on the stock.Celanese falls on Piper Sandler downgrade
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