Needham & Company Maintains a 'Buy' on EMC (EMC); Although Some Macro and HDD Headwinds in 2012, EMC on Pace for Another Strong Year
Tweet
Share
E-mailGet Alerts EMC Hot Sheet
Price: $37.38 +0.89%
Rating Summary:
13 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
13 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Join SI Premium – FREE
Needham & Company maintains a 'Buy' on EMC (NYSE: EMC) price target raised $2 to $34
Needham analyst says, "2012 guidance of NG EPS ~$1.70 on ~$22B, inline with prior street $1.71 on $22B. EMC expects 2012 IT spending growth of 3-4%, vs. 7% y/y. Storage and data protection should grow faster than IT avg., while security, big data analytics/storage, and virtualization among others should grow significantly faster than IT avg. EMC positioned in these higher growth areas, has favorable product cycles/ new releases and expects to grow share. EMC expects some possible minor HDD constraints in 2012, but feels well positioned to manage challenges given size and relationships. It expects normal q/q rev. seasonality. GM should progress higher on mix, while OpM should be flat at ~24% on OPEX investment (esp. R&D). Overall, EMC appears better positioned than anytime in recent memory in our view."
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 $25.14 yesterday.
Needham analyst says, "2012 guidance of NG EPS ~$1.70 on ~$22B, inline with prior street $1.71 on $22B. EMC expects 2012 IT spending growth of 3-4%, vs. 7% y/y. Storage and data protection should grow faster than IT avg., while security, big data analytics/storage, and virtualization among others should grow significantly faster than IT avg. EMC positioned in these higher growth areas, has favorable product cycles/ new releases and expects to grow share. EMC expects some possible minor HDD constraints in 2012, but feels well positioned to manage challenges given size and relationships. It expects normal q/q rev. seasonality. GM should progress higher on mix, while OpM should be flat at ~24% on OPEX investment (esp. R&D). Overall, EMC appears better positioned than anytime in recent memory in our view."
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 $25.14 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- Needham Starts Pulse Biosciences (PLSE) at Buy
- Deutsche Bank Downgrades Workday (WDAY) to Hold
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
