VMW VMware: Bottom of a range

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	Brantley Foster
	NYC User since Oct 2010	65
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Bottom of a range

VMW never seems to spend much time below $80. Maybe it will dip a little but I would think it will return to familiar territory in the 90s soon.

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What People Are Saying...

David Sachdev said at 1/13/12 8:36 AM Price action was $87.88 -0.04 (0.0%)

Not sure how much Citigroup matters these days, but this could way on shares today:

Citigroup lowers its rating on VMware (NYSE: VMW) to Sell from Hold and lowers its price target to $80 from $87 per share as upside to street estimates will be challenging in 2012.

Citigroup notes, "Perpetual license model, ties to hardware refresh and relatively high Europe exposure put VMW among the most exposed if IT spending conditions worsen. Virtualization remains a priority on our CIO surveys but this was the case through the 2008 downturn as well. During the 08-09 downturn, VMW's revenue decelerated among the most in our coverage universe."

VMW closed at $87.88 per share on Thursday.