UPDATE: Sterne Agee Raises PT to $32 on EMC

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Sterne Agee increases its price target from $30 to $32 on EMC
EMC
as lower cost VNX provides share opportunities for the company Sterne Agee notes, "A recurring theme from our reseller contacts is VNX win rates in competitive bidding situations remain solidly intact, driven in large part by the lower price points vs. the prior generation, CX4 array. …Given feedback that suggests incremental revenue opportunities stemming from Isilon Systems, VNX along with VDI deals in the channel, we are raising our core Storage revenue projections for EMC from 8.9% Y/Y growth to 10.4% Y/Y for CY2012 and 8.6% to 9.3% for CY2013." EMC closed at $28.60 on Wednesday.
Posted In: Analyst ColorPrice TargetReiterationIntraday UpdateAnalyst RatingsSterne Agee
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