Business & Tech
Stock Picker Sees Hopkinton's EMC Climbing to 35
Stephen Quickel, who runs stock-buying site, predicts good year at data-storage giant.
A veteran stock picker predicts that the value of stock in Hopkinton’s EMC Corp. will rise from its present $25 per share to about $35 per share in six months to a year.
Stephen Quickel, a stock picker with 26 years experience, publishes the on-line US Investment Report.
EMC, whose world headquarters are on South Street, makes data storage hardware and software. It has annual revenues of $17 billion.
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EMC’s stock hit a low of $8 in late 2008 as the economy collapsed. Since then, its shares have tripled to $25. Its earnings per share have doubled.
Quickel says the stock rise was driven by a shift to sales of products with higher sales margins, sales to customers who put off purchases during the recession and large stock buybacks by the company.
Analysts covering EMC project earnings growth of 14% to 15% a year going forward, Quickel said.
Of 36 Wall Street analysts tracking EMC, 24 call it a Strong Buy and 4 a Buy.