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