Chatter From VMWorldhttp://goo.gl/pWhaILouis Miscioscia with Collins Stewart, who maintains a Buy rating on VMW, and a $108 price target, notes that the show floor was “very crowded.” He also writes that his conversations with chief information officers at the event reveal that “companies are virtualization their entire list of applications,” though I think he meant to say “virtualizing.”Patrick Walravens with JMP Securities reiterated a Market Outperform rating on the stock, and a $123 price target,and focuses on the issue of recent price changes in VMWare software, which had caused some outcry from the user base.“Based on our conversations with nine resellers and customers, our key take-aways are that spending on VMware products is accelerating (“Anything with a V in front of it is selling”) and the pricing change is not likely to negatively impact that spending,” writes Walravens.“All of the customers and resellers that we spoke with indicated that they expected spending on VMware to remain the same despite the pricing change.”Michael Turits with Raymond James, on the other hand, reiterates a Market Perform rating on VMW, writing that the presentation by CEO Paul Maritz, and the product introductions, were “more evolutionary than revolutionary.”VMware is well off its 52-week high of $111.43, like a lot of enterprise software stocks, he writes, and so “excitement around the conference could provide a near term boost to the stock,” but there’s no change to the fundamental outlook for the company.
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