UPDATE: Brean Murray Carret & Co. Reiterates Buy Rating on EMC Corporation

Brean Murray Carret reiterated a Buy rating on EMC Corporation EMC and a price target of $32. Brean Murray Carret & Co. remarked, “EMC announced preliminary Q2 2012 EPS of $0.39 (+11% Y/Y) and Revenue of $5.31B (+10% Y/Y), compared with Street estimates of $0.40 and $5.29B. EMC also reiterated its 2012 Revenue and EPS guidance of $22B and $1.70. We continue to view EMC as a solid name that continues to display relative strength in the Enterprise market despite macro headwinds. A more detailed review of Q2 performance, as well as the 2012 outlook, will be provided after the company reports on July 24.” EMC Corporation closed at $22.92 on Tuesday.