EMC is a service provider of IT storage hardware solutions to promote data backup and recovery and accelerate the journey to cloud computing.
"Our lowered price target for EMC reflects concerns around the impact of hyper-converged storage on the storage market as well as our checks around an increasingly tough competitive environment," Jefferies analysts said.
While the firm lowered the price target of EMC, it maintained a "buy" rating as EMC recently launched a hyper-converged solution and will participate in this growing market.
Additionally, EMC has significant portfolio breadth with a number of innovations to continue to drive growth, Jefferies noted.
Separately, TheStreet Ratings team rates EMC CORP/MA as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EMC CORP/MA (EMC) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and relatively poor performance when compared with the S&P 500 during the past year."