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Technology Stocks : Son of SAN - Storage Networking Technologies -- Ignore unavailable to you. Want to Upgrade?

To: w2j2 who wrote (4348)	1/25/2002 4:16:03 PM
From: stockman_scott	Respond to of 4808

RESEARCH ALERT-CSFB upgrades EMC to 'strong buy' NEW YORK, Jan 25 (Reuters) - Credit Suisse First Boston on Friday said it raised its rating for EMC Corp. (NYSE:EMC - news), the world's largest maker of data-storage systems, to ``strong buy'' from ``buy,'' saying the company exceeded its sales and earnings estimates in its fourth-quarter results. Analyst Amit Chopra also raised his 12-month price target on the stock to $25 from $20. Chopra said in a research note while he remains concerned about excess storage capacity at customer sites, he believes rising utilization rates driven by the proliferation of storage networks will likely produce ``a more benign pricing environment,'' fueling EMC's growth and profitability. EMC on Thursday reported sales of $1.5 billion, above Chopra's $1.3 billion estimate. Its fourth-quarter loss of 3 cents beat his target by 5 cents, Chopra added. Chopra raised his 2002 earnings forecast to a profit of 2 cents, from a loss of 5 cents previously, and his revenue projection to $6.5 billion from $6.2 billion. Shares closed at $16.83 on Thursday.