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Fly News Breaks for July 23, 2015
VMW, EMC
Jul 23, 2015 | 07:28 EDT
Wells Fargo analyst Maynard Um upgraded EMC (EMC) to Outperform citing a more favorable risk/reward following the company's reduced guidance. Um sees the potential for a number of strategic corporate actions, some of which he believes could take place before year-end. Most favorable would be a buy-in of EMC's VMware (VMW) stake, Maynard tells investors in a research note. The analyst has a $29-$31 price target range for EMC shares, which closed yesterday up 45c to $25.38.
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