VMware is a 'hybrid monster' in cloud computing, analyst says, and its stock will climb

Piper Jaffray began covering shares of VMware on Tuesday with an overweight rating, saying the cloud computing company is a best in class 'hybrid monster' whose stock will climb more than 13% from here.

Hybrid cloud computing is a subset of the broader information technology sector. Hybrid cloud companies bridge the gap between a private, locally-based cloud system and a public, third-party cloud service.