UPDATE: Morgan Stanley Raises PT to $37 on EMC Corporation
Morgan Stanley ups its price target $4 to $37 on Overweight-rated EMC Corporation (NYSE: EMC) on the company's favorable product mix.
Morgan Stanley says, "High-growth, high-margin businesses now make up over 25% of EMC's revenue contributing 5 pts of revenue growth and 200bps of margin expansion annually going forward. We expect mix, product refreshes and expanded distribution to drive EMC towards our new $37 price target (up from $33)."
EMC closed at $29.55 a share on Tuesday.
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