Collins Stewart Upgrades EMC (EMC) to Buy; Competitive Position/Valuation Too Compelling to Ignore

Collins Stewart upgraded EMC (NYSE: EMC) from Neutral to Buy, price target raised from $30 to $32.

Collins analyst says, "Our confidence level in EMC's overall business model & strategic positioning has increased over the past six months. This, along with the recent price drop in the shares (now ~14x 2012 EPS) has, in our opinion, created an opportunity to become incrementally more positive. Thus we upgrade EMC shares to Buy from & raise our PT to $32, or 28% upside from current levels (18x our 2012 EPS est of $1.75, up from prior 17x on our higher conviction level)."

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

Shares of EMC closed at $25.04 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Freedom Broker Upgrades Serve Robotics (SERV) to Buy
• CIBC Upgrades PRO REIT (PRV-U:CN) to Outperformer
• Jefferies Upgrades Minerva Neurosciences (NERV) to Buy