Drexel Hamilton Analyst Reiterates Buy Rating for EMC Corporation (EMC)
Drexel Hamilton analyst, Brian White, reiterates his Buy Rating for EMC Corporation (NYSE:EMC) following the company’s stellar Q2 earnings and the announcement of an approved merger agreement with Dell.
EMC’s earnings report beat the analyst’s estimates. The company non-GAAP sales of $6.02 billion, beat White’s estimates of $5.82 billion. According to the analyst, “…pro forma EPS of $0.45 was above our projection of $0.40.This revenue performance represents a 10% QoQ sales increase and stronger than the 6% average increase over the past five years.”
The analyst explains that EMC reported “skeletal” 2Q16 financial details, and did not provide an outlook given the company’s pending acquisition by Dell.
TipRanks shows that Brian White is ranked #110 of 4,057 analysts. He maintains a success rate of 59% and sees an average return of 8.6%.