After #VMware Inc.’s (VMW) strong third-quarter results, posted Wednesday after market close, the technology infrastructure and network virtualization leader has seen its stock rise a solid 3.5%. Analysts were pleased with the Palo Alto, Calif.-based company’s Q3 earnings and revenue beats, along with VMware’s positive guidance. Amidst the news, Citi Group has upgraded the tech firms stock to a buy rating, raising its price target 20% to $95. Higher Billings Highlighted Amid Revenue Beat In the company’s first quarterly earning report since #DellTechnologies acquisition of VMware parent company #EMC, the virtualization provider posted adjusted profit of $1.14 per share. Non-GAAP EPS reflected a 12% rise year-over-year (YOY) and beat the Street’s estimates of $1.10. Reported Q3 revenues of $1.78 billion for the quarter secured a 6% growth YOY, surpassing the consensus estimate of $1.76 billion.
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