EMC (EMC) Checks Show Weakness, Oppenheimer Cuts Rev. Forecast
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Price: $31.52 -1.16%
Rating Summary:
13 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
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Rating Summary:
13 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Oppenheimer enterprise checks point to a below-consensus December quarter at EMC (NYSE: EMC).
"While Europe continues to rebound (from a lower base), US demand seems hindered by fiscal uncertainty. We continue to see headwinds in 1H13. Product-wise, strength in VNXe demand is offsetting a deceleration in Data Domain and Isilon while EMC's PCIe SSD solution (VFCache) has yet to gain significant traction," said analyst Ittai Kidron.
Kidron expects EMC to report below the Street's $5.99 billion revenue target. He reduced his estimate to $5.90 billion from $5.92 billion. Kidron also thinks guidance will be weak.
On the positive side, more emphasis on SSD and clarity on 2013 should help the stock later in the year, added the analyst.
Oppenheimer has an Outperform rating on EMC (NYSE: EMC) with a price target of $30.00.
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 $25.24 yesterday.
"While Europe continues to rebound (from a lower base), US demand seems hindered by fiscal uncertainty. We continue to see headwinds in 1H13. Product-wise, strength in VNXe demand is offsetting a deceleration in Data Domain and Isilon while EMC's PCIe SSD solution (VFCache) has yet to gain significant traction," said analyst Ittai Kidron.
Kidron expects EMC to report below the Street's $5.99 billion revenue target. He reduced his estimate to $5.90 billion from $5.92 billion. Kidron also thinks guidance will be weak.
On the positive side, more emphasis on SSD and clarity on 2013 should help the stock later in the year, added the analyst.
Oppenheimer has an Outperform rating on EMC (NYSE: EMC) with a price target of $30.00.
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 $25.24 yesterday.
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