by Sam Collins | November 21, 2013 1:46 am
EMC Corp. (EMC) — This is one of the world’s largest suppliers of enterprise storage systems, and it also owns 80% of VMware (VMW), a leading provider of server virtualization software.
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%.
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