Tags: US | EMC | Ahead | of | the | Bell

Oppenheimer Upgrades EMC on Solid Growth Hopes

Wednesday, 07 Jul 2010 09:27 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

An Oppenheimer analyst has upgraded EMC Corp., saying the data storage specialist is set to deliver strong second-quarter results and has good momentum going into the third quarter.

Ittai Kidron, who raised his rating to "Outperform" from "Perform," said he thinks EMC's broad product portfolio and scale will help it deliver "solid growth" and better withstand another potential economic slowdown.

"Storage remains a top (technology) spending priority, and we believe EMC is well positioned in this area," Kidron wrote in a note to investors Tuesday. He set a target price of $22.

Separately, EMC said Tuesday it plans to buy data analysis startup Greenplum Inc. for an undisclosed sum, in an effort to lower the cost of analyzing companies' digital information. Baird analyst Jason Noland said he does not expect the deal to have a "material impact" on EMC.

He added he thinks EMC is in a good position to take advantage of improving demand environment.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved