Goldman Sachs Said EMC's Results Prove IT Spending Is Stabilizing, Positive For Software (MSFT, SYMC)
Get Alerts EMC Hot Sheet
Rating Summary:
14 Buy, 25 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 16 | New: 3
Join SI Premium – FREE
Goldman Sachs said EMC's (NYSE: EMC) 2Q upside, resumption of providing full-year guidance, and tone and comments from the conference calls are incremental signs that IT spending environment is beginning to stabilize, which is consistent with their view.
EMC's news is supportive of their positive view on software for the 2nd-half of '09. The firm's investment stance in software has shifted more offensive with a bias toward growth exposure.
The firm's favorites in the group include Conviction Buy List rated Microsoft (Nasdaq: MSFT) and Symantec (Nasdaq: SYMC) and Buy rated Oracle (Nasdaq: ORCL), BMC (NYSE: BMC), Citrix (Nasdaq: CTXS), Quest Software (Nasdaq: QSFT), SolarWinds (NYSE: SWI) and SuccessFactors (Nasdaq: SFSF). Salesforce.com (Nasdaq: CRM) and Akamai (Nasdaq: AKAM) rated Sell.
The firm maintained their Neutral rating on EMC, but raised their price target to $16 from $13.50.
Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php
You May Also Be Interested In
- Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
- Sage Therapeutics (SAGE) PT Lowered to $18 at Mizuho
- Churchill Downs (CHDN) PT Raised to $143 at Mizuho
Create E-mail Alert Related Categories
Analyst Comments, Insiders' BlogRelated Entities
Goldman Sachs Conviction Buy ListSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!