Oppenheimer Raises Estimates and Price Target on EMC Corp (EMC) After Checks
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Price: $25.35 -0.98%
Rating Summary:
14 Buy, 25 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
Rating Summary:
14 Buy, 25 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Oppenheimer raised estimates and its price target on Outperform-rated EMC (NYSE: EMC)from $28 to $34 following US/Europe channel checks.
The firm said the checks showed that EMC's March results are tracking in line or possible upside to expectations.
"Our contacts point to balanced demand across the US and Europe and continue to highlight growing demand for EMC's new products (VNXe, Isilon, and VMAXe)," the firm said. "Looking ahead, we see room for upside in the June quarter as our contacts highlight strong pipelines and upgrade activity. EMC is already seeing rising interest for its new VFCache solution, and with Project Thunder's release on the horizon, the company's strong product cycle looks to continue."
FY12 EPS goes from $1.73 to $1.76 and FY13 from $1.89 to $1.93.
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 $29.71 yesterday.
The firm said the checks showed that EMC's March results are tracking in line or possible upside to expectations.
"Our contacts point to balanced demand across the US and Europe and continue to highlight growing demand for EMC's new products (VNXe, Isilon, and VMAXe)," the firm said. "Looking ahead, we see room for upside in the June quarter as our contacts highlight strong pipelines and upgrade activity. EMC is already seeing rising interest for its new VFCache solution, and with Project Thunder's release on the horizon, the company's strong product cycle looks to continue."
FY12 EPS goes from $1.73 to $1.76 and FY13 from $1.89 to $1.93.
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 $29.71 yesterday.
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