UPDATE: Wedbush Raises PT on EMC Corp. to $30 (EMC)

Wedbush is out with its report today on EMC Corp. (NYSE: EMC), raising its PT from $29 to $30.

In a note to clients, Wedbush writes, "EMC is executing well and still owns about 80% of marquee company VMWare. EMC stock has outperformed many of the large cap tech stocks in 2010, and we expect the momentum to continue in 2011. Our target represents an 18x multiple of our 2012 estimated EPS of $1.65, slightly above the sector average, given EMC's superior execution and ownership of VMW. We encourage investors interested in large cap tech companies buy EMC shares."

Wedbush maintains Outperform on EMC.

Shares of EMC closed Wednesday at $26.09.