Needham & Company Trims PT on EMC (EMC) to $30, Keeps Buy
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Price: $37.05 -0.16%
Rating Summary:
13 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company trimmed its price target on EMC (NYSE: EMC) from $32 to $30 but kept a Buy rating.
Analyst Glenn Hanus comments, "EMC (including VMW) reported solid 4Q, with each slightly exceeding rev. and EPS. The ’13 outlook is more bifurcated with EMC (ex. VMW) essentially in-line with previous estimates as storage rev. should be supported by favorable product cycle, share gains and stable spending environment. More cautious outlook for VMW (Buy-rated, covered by Needham analyst Scott Zeller, see most recent note 1/29/13) accounts for slightly lower overall rev. outlook. On balance, we maintain our positive view and rating for EMC."
The firm trimmed FY13 EPS estimates from $1.90 to $1.86. FY14 EPS is introduced at $2.12.
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 $24.18 yesterday.
Analyst Glenn Hanus comments, "EMC (including VMW) reported solid 4Q, with each slightly exceeding rev. and EPS. The ’13 outlook is more bifurcated with EMC (ex. VMW) essentially in-line with previous estimates as storage rev. should be supported by favorable product cycle, share gains and stable spending environment. More cautious outlook for VMW (Buy-rated, covered by Needham analyst Scott Zeller, see most recent note 1/29/13) accounts for slightly lower overall rev. outlook. On balance, we maintain our positive view and rating for EMC."
The firm trimmed FY13 EPS estimates from $1.90 to $1.86. FY14 EPS is introduced at $2.12.
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 $24.18 yesterday.
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