UPDATE: UBS Investment Research Initiates EMC Corp with Buy, $30 PT on Bullish Earnings Outlook

UBS Investment Research initiated its rating on EMC Corp (NYSE: EMC) with a Buy rating and a price target of $30.

UBS Investment Research said, "We initiate with a Buy and target price of $30 per share. EMC is king of the storage ocean and could grow earnings in the teens. Given increasing competition, however, it must keep moving to win in existing segments and create new ones. We expect the stock eventually to break out on new product strength."

EMC Corp closed at $23.69 on Tuesday.