With Little Upside To Capture, Longbow Downgrades EMC

Loading...
Loading...

Longbow has downgraded EMC Corporation EMC to Neutral from Buy on valuation as the shares reached the brokerage's target price of $28.

"Valuation has expanded as confidence grew in Dell's ability to raise the required capital to acquire EMC, through new debt raises and asset sales. Consequently, there is little remaining upside to capture," analyst Joe Wittine wrote in a note.

Related Link: Should Investors Shift Away From Old Tech Legacy Stocks

In October, Dell agreed to buy EMC for $67 billion. The U.S. regulators have approved deal in February.

At the time of writing, shares of EMC were down 0.09 percent to $27.82.

Posted In: Analyst ColorLong IdeasDowngradesPrice TargetM&AAnalyst RatingsTrading IdeasJoe WittineLongbow
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...