Auriga Reiterates a 'Buy' on EMC (EMC); Delivers Strong Share Gain Driven Upside;

Auriga reiterates a 'Buy' on EMC (NYSE: EMC) price target of $28.00.

Auriga analyst said, "EMC reported strong revenue and EPS upside in a challenging macro environment. Longer term, 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. We believe EMC shares are attractively priced given that outlook, and we believe EMC's high exposure to a staple area like storage offers stability, while cloud, security, etc. offer potential for growth, thus we are reiterating our rating on the shares."

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.

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