Sterne Agee Likes EMC Stock With Elliott Involvement

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 off VMware

As reported in ValueWalk, Paul...