Analyst Downgrades EMC Corporation (EMC)
Analyst Brian Alexander from Raymond James downgraded EMC Corporation (NYSE:EMC) to a Market Perform rating in addition to removing his price target. The analyst believes there is limited upside with “the pending Dell deal and following outperformance over the past three months.” Alexander expects Dell’s acquisition of EMC to close by July 19th, the date of the shareholder vote. If by chance the vote does not pass, the analyst anticipates downside in the low 20s.
According to TipRanks, Alexander has a success rate of 50% with an average loss of 9.2% per recommendation.