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In a report published Wednesday morning, Stifel decreased its earnings and revenue estimates for EMC Corporation's (NYSE: EMC) first quarter fiscal 2015, as well as FY2015 and FY2016.
The firm maintained a Buy rating and $33 price target on the stock, as it sees “a lot of moving parts in the EMC story, including the potential for meaningful strategic catalyst.” However, analysts go “back to valuation as a key element” to their retained Buy.
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Shares recently traded at $27.84, up 0.36 percent.
Stifel models earnings for the fourth quarter of 2014 at $0.69 (versus the Street consensus of $0.68), and revenue at $7.12 billion (versus $7.11 billion). The outlook for 2015 was adjusted “to try to more appropriately reflect the incremental VCE impact.”
The report explained, “With Stifel Analyst, Brad Reback’s VMware estimates unchanged in our model (i.e., rev. +12.5% yr/yr in 2015; we believe some investors have questioned downside into +10% yr/yr range for guide), we believe investors will be focused on EMC’s growth expectation excluding VMware and the incremental VCE contribution.”
Finally the research summary recommends investors to try understand “EMC’s II core/legacy storage versus emerging growth.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.