UPDATE: Brean Murray Carret Maintains Buy, Raises PT to $31 on EMC Corp

Brean Murray Carret reiterates its Buy rating on EMC Corp (NYSE: EMC) and raises its price target to $31 from $28 a share as it likes the company's long term outlook and positioning with key apps.

Brean Murray Carret comments, "We continue to like the shares here taking a full year view, although we;d not be surprised to see the stock digest gains after its recent rally & among Dec. Q beat. That said, we'd look to build positions on pullback as we believe 1) AMC set a 'prudent" 2012 guide while also guiding to Street ($22B and $1.70) and 2) we believe EMC will ultimately garner a disproportionate share of investor interest as one of the few true enterprise growth names."

EMC closed at 25.14 a share on Tuesday.