Market Overview

Brean Murray Reiterates Buy Rating, $32 PT on EMC Corporation

Share:
Related EMC
EMC Posts Downbeat Q1 Results, Lowers Forecast
Earnings Scheduled For April 22, 2015
VMware Proves Again It Won't Be Killed By The Cloud (Seeking Alpha)

In a report published Wednesday, Brean Murray, Carret & Co. reiterated its Buy rating and $32.00 price target on EMC Corporation (NYSE: EMC).

Brean Murray noted, “EMC continues to be our top pick heading into 2H12 on the back of product cycles, share gains, and attractive growth. Aside from reiterating CY12 revenue and EPS guidance of $22B and $1.70, we believe opportunity for EPS upside remains (GM driven) should industry pricing pressure not get materially strong. EMC generated Jun Q GM of 64.4% (vs. our expectation of 62.1%) due to ramp of new high‐end VMAX hardware and increasing software attach – however, in anticipation of a more aggressive 2H12 ASP environment given macro, EMC is baking in softer 2H12 GM – IF ASP pressure doesn't materialize, we could see EMC generating up to $0.04 in CY12 EPS upside.”

EMC Corporation closed on Tuesday at $25.34.

Latest Ratings for EMC

DateFirmActionFromTo
Apr 2015CitigroupMaintainsNeutral
Apr 2015JP MorganMaintainsNeutral
Apr 2015Piper JaffrayMaintainsNeutral

View More Analyst Ratings for EMC
View the Latest Analyst Ratings

Posted-In: Brean Murray Carret & Co.Analyst Color Reiteration Analyst Ratings

 

Related Articles (EMC)

Around the Web, We're Loving...