EMC How high can it go? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : EMC How high can it go?

EMC 29.05

0.0%

Sep 15 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: VFD who wrote (11147)	9/20/2000 4:15:46 PM
From: bob gauthier	Read Replies (1) of 17183

EMC rises to a new high after positive analyst note NEW YORK, Sept 20 (Reuters) - Data storage leader EMC Corp.'s (NYSE:EMC - news) shares rose more than 5 percent on Tuesday to a new high, after an analyst raised his view of the stock. Shares in the Hopkinton, Mass.-based company rose 5-3/4 to 103-15/16, making it one of the top net gainers on the New York Stock Exchange. Wit Soundview analyst Gary Helmig said he raised his estimates for earnings in the year 2001 to $1.06 from 97 cents and set a six-month price target of $90, based on his view of low competitive pressures in the coming months. Helmig's 12-month price target on the stock is $110. His fiscal year 2000 earnings estimate remained unchanged at 77 cents. He cited the pricing of rival products from International Business Machines Corp. and Hitachi Ltd. as reasons for optimism in the near-term for EMC. ``I'm finding IBM is not going to be delivering the advanced functions it was supposed to deliver in the September or October timeframe until November,'' he said. ``There is nothing aggressive in the pricing of the Hitachi 9900, and IBM is not really aggressively pricing Shark.'' ``So the impact to EMC's gross margins is going to come a quarter or two later than we thought,'' he added. ``We still worry about competition longer term, which is why we are not changing our 12-month price target.''

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next