Sterne Agee has analyzed the potential outcomes of Elliott’s involvement with EMC Corporation (NYSE:EMC) and thinks regardless of which path is taken it is likely supportive of the stock. In a report released today, Sterne Agee analysts Alex Kurtz and Amelia Harris speculate the most likely scenario is an increased buyback that could reach up to $8 billion in addition to other potential actions EMC consolidated could take on the expense line. Whatever path is chosen it is likely supportive of the stock and the brokerage firm’s $32 price target. EMC closed yesterday at $29. Elliott pressuring EMC to spin…
Sterne Agee Likes EMC Stock With Elliott Involvement
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.