Morgan Stanley Has Long-Term Confidence In EMC Corporation
In a report published Friday, Morgan Stanley analyst Katy L. Huberty reiterated an Equal-Weight rating on EMC Corporation (NYSE: EMC).
In the report, Morgan Stanley noted, “EMC Chairman and CEO, Joe Tucci, along with the three CEOs of EMC's Federation (David Goulden - CFO and CEO of EMC II, Pat Gelsinger - CEO of VMware, and Paul Maritz - CEO of Pivotal) expressed several reasons the companies are better together during our recent meeting. 1) The well aligned and integrated strategy creates a stronger go-to-market capability that more effectively addresses customer needs. 2) The products are largely complementary and customers are asking for more, not less integration. 3) The scale and strong balance sheet of the combined business allows for a longer-term investment horizon to build critical technologies that enhance the value proposition (i.e. Pivotal).”
EMC Corporation closed on Thursday at $29.05.
Latest Ratings for EMC
|Aug 2016||Deutsche Bank||Maintains||Hold|
|Jul 2016||Bernstein||Downgrades||Outperform||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.