Auriga Upgrades EMC (EMC) to Buy; L-T Tech Winner, with Protection During A Downturn
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Price: $36.25 -2.79%
Rating Summary:
13 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
13 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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Auriga upgraded EMC (NYSE: EMC) from Hold to Buy with a price target of $28.00.
Auriga analyst says, "We expect EMC will continue to be a share-gaining leader in the very attractive storage space, and its exposure to other high growth markets beyond storage suggests a top-line CAGR of 10%+ is sustainable. We also believe EMC can continue to push margins modestly higher, and thus bottom-line growth of 15% appears very possible, placing EMC into the group of elite large cap growth names in the tech space. After the recent market sell-off, we now believe EMC shares are attractively priced given that outlook, and we believe EMC's high exposure to a staple area like storage offers some protection during a downturn, thus we are upgrading the stock."
For more ratings news on EMC click here and for the rating history of EMC click here.
Shares of EMC closed at $22.99 yesterday.
Auriga analyst says, "We expect EMC will continue to be a share-gaining leader in the very attractive storage space, and its exposure to other high growth markets beyond storage suggests a top-line CAGR of 10%+ is sustainable. We also believe EMC can continue to push margins modestly higher, and thus bottom-line growth of 15% appears very possible, placing EMC into the group of elite large cap growth names in the tech space. After the recent market sell-off, we now believe EMC shares are attractively priced given that outlook, and we believe EMC's high exposure to a staple area like storage offers some protection during a downturn, thus we are upgrading the stock."
For more ratings news on EMC click here and for the rating history of EMC click here.
Shares of EMC closed at $22.99 yesterday.
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