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Downgrade Alert for EMC (EMC)

By Shiri Gupta

EMC (NYSE:EMC) was downgraded from Outperform to Neutral at Macquarie today. The stock closed yesterday at $27.53 on volume of 7.8 million shares, below average daily volume of 11.6 million.

EMC (NYSE:EMC) has potential upside of 8.7% based on a current price of $27.53 and analysts' consensus price target of $29.92. EMC shares have support at the 50-day moving average (MA) of $26.26 and additional support at the 200-day MA of $25.59.

EMC share prices have moved between a 52-week high of $28.77 and a 52-week low of $22.66 and closed yesterday at 21% above that low price at $27.53 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

EMC Corporation provides enterprise storage systems, software, networks, and services. The Company's products store, retrieve, manage, protect, and share information from all major computing environments and mainframe platforms. EMC operates offices around the world.

SmarTrend recommended that subscribers consider buying shares of EMC on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.04. Since that recommendation, shares of EMC have risen 6.0%. We continue to monitor EMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades

Ticker(s): EMC