CLSA Issues an Upgrade on EMC Corporation (NYSE:EMC) Shares. What’s Next?

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EMC Corporation (NYSE:EMC) Stock Upgrade

EMC Corporation (NYSE:EMC) was upgraded by CLSA from a Underperform rating to a solid Outperform rating in a note sent to clients and investors on Friday, 4 December.

From a total of 24 analysts covering EMC Corporation (NYSE:EMC) stock, 16 rate it a ”Buy”, 1 a “Sell”, and 15 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $33 while the lowest target price is $26. The mean of all analyst targets is $29.77 with a 17.21% above today’s ($25.92) stock price. EMC Corporation was the topic of 27 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Credit Agricole upgraded shares on December 4 to “Outperform” rating. Mizuho maintained shares with “Neutral” rating and $31 target share price in a report from an October 12. Atlantic Securities downgraded EMC stock in a recent report from October 22 to “Neutral” rating. S&P Research maintained the rating on October 9. S&P Research has a “Strong Buy” rating and a $30 price target on shares. Finally, Stifel Nicolaus downgraded the stock to “Hold” rating in a report issued on an October 22.

The stock increased 1.37% or $0.35 on December 4, striking $25.92. Approximately shares of stock traded hands. EMC Corporation (NYSE:EMC) has declined 4.67% since May 4, 2015 and is downtrending. It has underperformed by 3.59% the S&P500.

EMC Corporation is a service provider to information technology (IT) activities to an as a service model (ITaaS). The company has a market cap of $50.25 billion. It develops, delivers and supports the IT industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. It has 21.89 P/E ratio. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure, VMware Virtual Infrastructure and Pivotal.

According to Zacks Investment Research, “EMC Corporation and its subsidiaries design, manufacture, market and support a wide range of hardware and software products and provide services for the storage, management, protection and sharing of electronic information. These integrated solutions enable organizations to create an enterprise information infrastructure, or what EMC calls an E-Infostructure. EMC is the leading supplier of these solutions, which comprise information storage systems, software and services.” Get a free copy of the Zacks research report on EMC Corporation (EMC).

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