Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Banc of America Rates EMC a Buy

Banc of America initiated coverage of EMC Corp. (EMC) with a buy rating.

Analyst Keith Bachman believes the weak tech tape created an attractive entry point for EMC, which is currently trading at 26 times his 2005 estimate. He says the storage market is the most attractive portion of the IT hardware market with growth rates 2 to 3 times PCs or servers; EMC is one of few pure plays.

He believes the company will continue increasing the amount of software and services revenue it generates as a percent of total revenue, and drive improved gross and operating margins. He thinks EMC will reach over 51% gross margins in the second half, helping to drive 2 cents of EPS upside.

Backman sees EPS of 36 cents in 2004 and 52 cents in 2005. He sets a $17 12-month price target on the shares.

blog comments powered by Disqus