Upgrade Alert for VMware (VMW)
VMware (NYSE:VMW) was upgraded from Neutral to Buy at SunTrust today. The stock closed yesterday at $74.25 on volume of 4.5 million shares, above average daily volume of 2.1 million.
VMware (NYSE:VMW) defies analysts with a current price ($74.22) 0.8% above its average consensus price target of $73.63. The stock should find initial support at its 200-day moving average (MA) of $62.54 and further support at its 50-day MA of $52.41.
In the past 52 weeks, shares of VMware have traded between a low of $43.25 and a high of $93.43 and closed yesterday at $74.22, which is 72% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.0%.
VMware Inc. develops virtual infrastructure solutions. The Company's products include vManage, which manages virtual infrastructure, vPlatform, a uniform platform for information technology infrastructure, and vTools, a virtual infrastructure integration tool.
SmarTrend recommended that subscribers consider buying shares of VMware on July 19th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.28. Since that recommendation, shares of VMware have risen 10.2%. We continue to monitor VMW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades VMware