EMC (EMC) Attack on NetApp (NTAP) Peters Out

January 4, 2013 9:50 AM EST Send to a Friend
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Price: $30.04 +0.50%

Rating Summary:
    34 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Analysts at BMO Capital think EMC's (NYSE: EMC) embrace of the channel, combined with EMC's introduction of the VNX/VNXe family resulted in EMC taking share from NetApp, Inc. (Nasdaq: NTAP) and the storage market more broadly last year. However, this trend appears to have ended.

"We think EMC will not be able to take material share from NTAP in 2013, as it did in 2012," said analyst Keith Bachman. "Recent feedback we have received from channel reps is that ONTAP 8 is more stable at present compared with early- and mid-2012, owing to a series of software upgrades. Moreover, we believe NTAP will offer ONTAP 8.2 in the May timeframe, which will include comparable feature sets between ONTAP version 7 and version 8."

BMO lowered its 2013 EPS estimate for EMC to $1.85 from $1.91. It also cut its price target to $29 from $30, though the firm maintained an Outperform rating.

For an analyst ratings summary and ratings history on EMC (NYSE: EMC) click here. For more ratings news on EMC click here.

Shares of EMC closed at $24.37 yesterday.


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