UBS Maintains a 'Buy' on EMC (EMC); This 'Project X' Will Be Loved

UBS maintains a 'Buy' on EMC (NYSE: EMC) price target of $32.00 (from $30.00).

Analyst, Steven Milunovich, said, "EMC paid a reported $450mn for Israel-based XtremIO in May, prior to any significant customer shipments. The private demonstration of Project X (based on XtremIO technology) at VMworld (NYSE: VMW) was well received, and reports indicate that beta testing is progressing well. Our contacts in the early access group tell us they "loved" XtremeIO/Project X and believe that flash is "coming on strong."

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 $27.51 yesterday.

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