S&P estimates that the company will earn $1.80 per share in 2013, $2.08 in 2014, and $2.31 in 2015. This steady increase in earnings projections is based on an anticipated increase in revenues, driven by the increased adoption of cloud computing. It has a “strong buy” rating on the stock with a 12-month price target of $32.
EMC is not a trading stock. Like many of the cloud computing stocks, it has fallen behind the market’s advance. But the sector is showing signs of renewed interest and could be a top performer in 2014.
EMC is a quality company in this sector, and at the current price, appears to be forming a bullish saucer with support at $23-plus. Buy EMC at the market for long-term appreciation. The stock has a dividend yield of 1.7%.