UPDATE: UBS Starts EMC (EMC) at Buy; Biggest Shark In The Tank

July 11, 2012 7:21 AM EDT
Get Alerts EMC Hot Sheet
Price: $29.05 --0%

Rating Summary:
    25 Buy, 26 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 54
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(Updated - July 11, 2012 11:08 AM EDT)

UBS initiates coverage on EMC (NYSE: EMC) with a Buy. PT $30.00.

Analyst, Steven Milunovich, said, "EMC is king of the storage ocean and could grow earnings in the teens. Given increasing competition, however, it must keep moving
to win in existing segments and create new ones. We expect the stock eventually to break out on new product strength."

"We model revenue of $22.4bn and EPS of $1.73 in 2012, slightly above company guidance. The Seagate (NYSE: STX) news gives pause, but growth should improve late this year thanks to the recent spate of product introductions and underlying storage growth."

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 $23.56 yesterday.

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