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With Little Upside To Capture, Longbow Downgrades EMC

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With Little Upside To Capture, Longbow Downgrades EMC

Longbow has downgraded EMC Corporation (NYSE: 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.

Latest Ratings for EMC

DateFirmActionFromTo
Sep 2016Brean CapitalTerminatesBuy
Aug 2016Deutsche BankMaintainsHold
Jul 2016BernsteinDowngradesOutperformMarket Perform

View More Analyst Ratings for EMC
View the Latest Analyst Ratings

 

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