While Citigroup and Bear Stearns are upgrading EMC Corp. (EMC), I'm left wondering why they aren't recommending actually purchasing VMWare . Both brokerage firms basically upped their rating on EMC to take advantage of VMW's growth potential. However, the only thing going for EMC right at the moment appears to be its ownership of VMW. For its part, EMC stock has edged out above long-term resistance at the 20 level - an area that had capped the shares pretty solidly since July 2001. However, VMW has vaulted more than 189% since its initial public offering at $29 per share on August 15. What's more, the stock has vaulted above the $80 level on today's upgrade of EMC.

However, its not like analysts are completely ignoring VMWare. This morning, a wealth of the brokerage bunch came out of the woodwork. Specifically the initiations are as follows: UBS - buy, J.P. Morgan - overweight, Credit Suisse - neutral, Deutsche Bank - hold, Bank of America - neutral. Prior to this morning's flood, Zacks reported that VMW sported 1 buy and 1 hold.

I am impressed that VMW is finally getting some well deserved attention from the Street, however, I am still seeing vestiges of Google syndrome. Despite the company's solid prospects and stellar technical performance, analysts still aren't giving the stock its due. Combining today's initiations with Zacks data, we have roughly 3 buys and 4 holds; not a very resounding endorsement, with ample room for improvement that should benefit VMW down the road.