Market Overview

UPDATE: JP Morgan Downgrades EMC Corporation to Neutral on Slowing Storage Market

Share:
Related EMC
Cognizant Shares Rally Amid Activist Letter; How Is Elliott's Track Record?
BMO Upgrades Open Text To Outperform, EMC Deal Could Lead To Significant Synergies

JP Morgan downgraded EMC Corporation (NYSE: EMC) from Overweight to Neutral and lowered the price target from $29.00 to $26.00.

JP Morgan commented, "Our research continues to indicate the storage market is slowing, and there also are companyspecific dynamics that could present incremental headwinds. Potential of 1) EMC's midrange market share momentum easing, 2) VMware's (rated N by John DiFucci) revenue growth moderating, and 3) weakness in high-end storage due to Oracle's (rated OW by John DiFucci) Exadata all could combine to limit EMC's model from having above-peer growth potential."

EMC Corporation closed at $24.15 on Friday.

Latest Ratings for EMC

DateFirmActionFromTo
Sep 2016Brean CapitalTerminatesBuy
Aug 2016Deutsche BankMaintainsHold
Jul 2016BernsteinDowngradesOutperformMarket Perform

View More Analyst Ratings for EMC
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (EMC)

View Comments and Join the Discussion!