Jefferies Reiterates Buy on EMC Corp. (EMC) Following Reports of Potential Deal with Dell

Jefferies reiterated a Buy rating and $29.00 price target on EMC (NYSE: EMC) following reports of talks over a combination with Dell. Dell and EMC are increasingly competing with the likes of Amazon, Google, Microsoft, and others that have deep pockets; becoming larger would make Dell and EMC of greater strategic importance to their customers.

Analyst James Kisner commented, "The WSJ reported that Dell is in talks over a combination with EMC and implied a full or partial takeover of EMC. We think a Dell/EMC combination makes sense with EMC buying Dell or a Dell/EMC merger, but we think EMC going private or Dell buying EMC is not likely given EMC's size and our view that a VMW spin out isn't likely."

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 $25.96 yesterday.

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