EMC (EMC) Price Target Lifted at BMO Capital

BMO Capital analyst Keith Bachman bumped his price target on Outperform-rated EMC (NYSE: EMC) from $29 to $30 citing a higher VMW (NYSE: VMW) valuation.

Bachman commented, "In conjunction with our new valuation target on VMW, we are raising our target price on EMC as well... Consistent with our past comments, we believe that EMC's core trades at a discount to other leading tech names. We note that the VMW within EMC represents more than 65% of the total value of EMC shares. If VMW traded at $124 per share, which is our new target price, then this would suggest that EMC’s current valuation would be ~5x our 2015 core EPS estimate of $1.40."

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 $27.71 yesterday.

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