Stock Update: EMC Corporation (NYSE:EMC) – Macquarie Cuts EMC To Hold Ahead Of Vote On Dell Deal

[at Barrons.com] – Analyst Rajesh Ghai and his team downgraded the shares to Neutral from Outperform with a $30 price target, writing that the move comes ahead of Dell’s acquisition of EMC goes to shareholder vote next week. Thus, he finds it difficult to value a stand-alone EMC at more than $20 a share, making the Dell deal attractive—but that doesn’t mean that investors should hang onto the stock: [T]he current valuation of EMC shares ($27.61) is significantly below the original value of the deal when it was originally announced – $24.05 in cash plus a VMware (VMW) tracking stock worth 0.111 of VMW’s trading price, which then equated to $33.15 per EMC share. The difference also reflects the tracking stock’s discount to the underlying VMW shares. Read more on this. , with a current market cap of $recting to http://finance.ya, ended session yesterday at $. A quick look at the market, the company’s stock traded between $ with its 52-week range being $. EMC shares are currently priced at x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s x earnings multiple. In a review of the consensus earnings estimate this quarter, 0 sell-side analysts are looking at $ per share, which would be $0.00 worse than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $ is a $0.00 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $0.00 . If realized, that would be a 0.00% decrease over the year-ago quarter. In terms of ratings, d EMC from to (/fi). Previously, d EMC from to . The average price target for EMC shares by the analysts covering the stock is $, which is 0.00% below where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Company Update (NYSE:EMC): EMC sets shareholder vote on Dell buyout Stock Update: EMC Corporation (NYSE:EMC) – Michael Dell to employees: Ignore media reports on EMC deal Company Update: EMC Corporation (NYSE:EMC) – Dell pushes ahead on megadeal as EMC investors get nervous