Vmware (VMW) NewsBite - VMW Downgraded By RBC Capital Markets

Posted: Thursday, September 25, 2008 2:12 PM EDT

Vmware (VMW) was downgraded today by analysts at RBC Capital Markets and the stock is now at $30.28, up $1.31 (4.52%) on volume of 1,025,087 shares traded. The brokerage downgraded VMW to "Sector Perform" from "Outperform," and cut its price target on the stock to $29 from $50. Over the last 52 weeks the stock has ranged from a low of $22.67 to a high of $125.25. Vmware stock has been showing support around $26.92 and resistance in the $32.46 range. Technical indicators for the stock are and S&P does not currently have a STARS rating for VMW. If you are looking for a hedged play on VMW the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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