ChangeWave Research’s Josh Levine estimates the total capacity for movement from enterprise storage to the public cloud will be more than 400% from 2011 to 2016, and he said it should be accumulated under $26.
S&P reported that an anticipated rise in revenue driven by the increased adoption of cloud computing is the basis for its projected earnings increases. It estimates operating EPS of $1.92 in 2014 and $2.15 in 2015, with a “five-star strong buy” rating and 12-month price target of $31.
In December, EMC completed a break from a huge bullish saucer, and in February, it flashed a golden cross. It appears that a major bull channel is forming that could result in a long-term bull market.
Buy EMC under $26 with a trading target of $32. Investors may want to hold shares long term for participation in the expansion of the cloud. The stock has a dividend yield of 1.7%.