Brean Murray, Carret & Co. Comments on EMC Corp.

Brean Murray has published a report on EMC Corp. (NYSE: EMC).

In the report, Brean Murray wrote, "For the Jun Q, we anticipate a bit of both revenue and EPS upside to Street estimates of $4.7B and $0.34, as we believe the Jun Q had a bit better tenor to it throughout (EMC reports Wed 7/20 BMO). That said, to get the stock to really breakout from here it's been our belief that EMC needs to raise its CY11 EPS guidance of $1.46, and we'd be surprised if they did without a strong Jun Q EPS beat (we're at $1.55 and Street is $1.49) – the reason EMC indicated it didn't do so last quarter was macro uncertainty, which we would suggest could be a bit greater at this point."

Brean Murray rated EMC Corp. a BUY with a price target of $33.00. EMC Corp. closed yesterday at $26.64.