Needham & Company Maintains a 'Buy' on EMC (EMC); Q2 Results beat Estimates on Broad Strength

Needham & Company maintains a 'Buy' on EMC (NYSE: EMC), raises PT by $1 to $33.

Needham analyst says, "EMC appears well positioned at the crossroads of cloud computing, enterprise data and Big data. It is focused on enabling hybrid (private/public) cloud computing through infrastructure and application transformation. Key 2011 initiatives include expanding its leadership in virtualization, share gains in core storage and building a leading position in “Big Data”. EMC indicates TAM growth of 10% through ’14 with rev./EPS growth of 13% CAGR. Leading growth (>20%) drivers include VMW, ISLN/Atmos, BRS, VPLEX, VCE, Greenplum. Overall, EMC appears better positioned than any time in recent memory." (Barclays raises FY12 EPS estimate from $1.68 to $1.73)

For more ratings news on EMC click here and for the rating history of EMC click here.

Shares of EMC closed at $27.38 yesterday.

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