UPDATE: Sterne Agee reiterates Buy Rating and $28 PT on EMC

In a report published Monday, Sterne Agee reiterated its Buy rating and $28 price target on EMC EMC Sterne Agee reported that, “We do not expect an update to guidance at the 3/13 event in NYC, except for the expected detail around Pivotal Labs. We expect EMC will outline: 1) how the company will benefit from a refreshed MidRange platform after EMC World (May), 2) a deeper discussion around the new Flash platforms announced last week, and 3) how EMC is poised to benefit from investments made in Public Clouds utilizing branded Storage such as Rackspace (RAX, $55.88, Not Rated). The secular concerns of Cloud Storage with providers such as Google (GOOG, $835.71, Neutral-Wu) and Amazon Web Services (AMZN, $271.79, Not Rated) that for the most part eschew branded technologies remains one the top discussion points with clients. That said, we believe platforms like Symmetrix/VMAX will/do have a place in this market given capabilities around High Availability.” Shares of EMC closed at $24.30 on Friday.