Needham & Company Reiterates Buy on EMC Corp. (EMC) as Reports Suggest Potential Merger with Dell

Needham & Company reiterated a Buy rating and $30.00 price target on EMC (NYSE: EMC) as news reports suggest talks of a Dell/EMC Merger. Dell is already private, so there aren’t any redundant public company cost savings. Except for storage, their businesses are sufficiently different that the sales organizations and R&D would need to remain.

Analyst Richard Kugele commented, "We believe that EMC is extremely thoughtful and deliberate. Our view on EMC remains unchanged: if any deal is consummated, in whole or in part, or conversely if no deal occurs and instead a buyback/dividend increase is announced, shareholders should see upside to EMC’s stock. Zero action is extremely unlikely at this juncture, in our view. We therefore reiterate our Buy on EMC."

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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