Mizuho Securities Downgrades EMC (EMC) to Neutral

Mizuho Securities downgraded EMC (NYSE: EMC) from Outperform to Neutral with a price target of $29.50 (from $28.50) and maintained a Neutral rating and $52 price target on VMW (NYSE: VMW).

Analyst Abhey Lamba commented, "VMware and EMC report results on July 18 after market close. For VMW, while fundamentals remain challenged, we expect slight upside to estimates given a conservative guide. In light of recent macro, we believe there could be slight risk to the FY16 outlook. For EMC, we continue to pick up on a challenging hardware spending environment, though, results are unlikely to matter given Dell's progress toward closing the merger. Maintain Neutral rating and $52 PT on VMW; Downgrading EMC to Neutral (PT from $28.50 to $29.50)."

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 $27.51 yesterday.

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