Market Overview

UPDATE: Citigroup Initiates EMC at Neutral on Valuation

Share:
Related EMC
F5 Networks Potential Buyers: Hewlett Packard, EMC And Cisco Lead The Way
EMC Downgraded To Neutral At Sterne Agee CRT
Open Text: Zero Percent Organic Growth, Significant Percent Appreciation Potential (Seeking Alpha)

Citigroup initiated coverage on EMC (NYSE: EMC) with a Neutral rating and a $30 price target.

Citigroup commented, "We view the shares to be fairly valued with limited upside to estimates. Our Neutral rating compares with consensus ratings of 95% Buys and 5% Holds. While positive secular trends are likely to drive continued demand for EMC's products and services (storage, virtualization and security), we believe macro factors in Europe and recent signs of weakness in Asia as well as high unemployment rates are likely to limit overall IT and storage spending."

EMC closed at $27.29 on Monday.

Latest Ratings for EMC

DateFirmActionFromTo
Jun 2016Sterne Agee CRTDowngradesBuyNeutral
Jun 2016UBSDowngradesBuyNeutral
May 2016Longbow ResearchDowngradesBuyNeutral

View More Analyst Ratings for EMC
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (EMC)

View Comments and Join the Discussion!