Auriga Initiates Coverage On EMC With Hold Rating - Global X Funds Global X Emerging Markets Great Consumer ETF (ARCA:EMC)

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According to Auriga, EMC Corporation (NYSE: EMC) coverage is initiated with a Hold rating.Auriga said that it expects EMC will continue to be a share gaining leader in the very attractive storage space, and its exposure to other high growth markets beyond storage suggests a top-line CAGR of 10%+ is sustainable. “We also believe EMC can continue to push margins modestly higher, and thus bottom-line growth of 15%+ appears very possible, placing EMC into the group of elite large cap growth names in the tech space. However, current valuation suggests the rest of the market sees the same positive outlook, so near term stock upside appears limited.”EMC Corporation closed yesterday at $27.30.

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