Needham & Company on EMC (EMC): In-line Q2; Outlook Essentially Unchanged; Strategic Position Very Strong

Needham & Company maintains a 'Buy' on EMC (NYSE: EMC) price target of $34.00.

Analyst, Glenn Hanus, said, "EMC reported 2Q12 Rev. of $5.31B and non-GAAP EPS of $0.39, in-line with 7/17 announcement. Our original 2Q estimates were $5.31B and $0.40...Mgmt. lowered its 2012 IT spending growth forecast to ~3% vs. prior expectations of 3.5-4% growth as macro weakness/uncertainty are resulting in increased caution and scrutiny over IT purchases worldwide. Despite macro headwinds, 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 $25.34 yesterday.

---

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

---

You May Also Be Interested In

• William Blair Downgrades Enovix Corporation (ENVX) to Market Perform
• Target (TGT) PT Raised to $170 at DA Davidson Ahead of Q2 Earnings
• Cullinan Oncology Inc. (CGEM) PT Raised to $27 at UBS