Jefferies Reiterates Buy on EMC Corp. (EMC) Following Reports of Potential Deal with Dell
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Rating Summary:
14 Buy, 25 Hold, 0 Sell
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Today's Overall Ratings:
Up: 15 | Down: 8 | New: 36
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Jefferies reiterated a Buy rating and $29.00 price target on EMC (NYSE: EMC) following reports of talks over a combination with Dell. Dell and EMC are increasingly competing with the likes of Amazon, Google, Microsoft, and others that have deep pockets; becoming larger would make Dell and EMC of greater strategic importance to their customers.
Analyst James Kisner commented, "The WSJ reported that Dell is in talks over a combination with EMC and implied a full or partial takeover of EMC. We think a Dell/EMC combination makes sense with EMC buying Dell or a Dell/EMC merger, but we think EMC going private or Dell buying EMC is not likely given EMC's size and our view that a VMW spin out isn't likely."
For an analyst ratings summary and ratings history on EMC click here. For more ratings news on EMC click here.
Shares of EMC closed at $25.96 yesterday.
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