Upgrades: EMC, Vistaprint Wednesday, November 25, 1:30 PM ET
This morning, UBS initiated coverage on EMC (NYSE:EMC) with a Buy rating. Analysts at the firm believe the company will be able to expand margins further in 2010 and see this boosting earnings going forward. With the upgrade, UBS set a price target of $20 per share.
In morning trading, shares of EMC were trading slightly lower despite the upgrade, off just a few pennies this morning.
And Citigroup upgraded shares of Vistaprint (NASDAQ:VPRT) from Hold to Buy as a short squeeze could be on the horizon. Shares have traded lower in recent weeks following a Senate committee report that cast Vistaprint in a negative light, but analysts at Citigroup believes investors are misinformed as core earnings should not be affected going forward. With the ugprade, the firm raised its price target from $55 per share up to $62.
Shares of Vistaprint were on the move Wednesday morning, up more than five percent so far today.
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