In Monday’s Analysts’ actions, Wall Street firms are concentrating on EMC (EMC), Salesforce (CRM), and Nordstrom (JWN). Jefferies downgraded EMC to HOLD from BUY with a $29 price target. This comes after the announcement Monday that computer maker Dell together with MSD Partners and Silver Lake will buy the data storage company for about $67 billion, making it the largest deal in tech history. Analysts said they’re concerned about the size of the debt raise and that there are risks if the deal doesn’t go through. In a different note, JMP Securities lifted Salesforce’s price target to $90 from $84. The firm is keeping its MARKET OUTPERFORM rating on the stock. The cloud computing company has ‘multiple growth avenues’ and after the investor meetings last week, it appears that the company is headed in the right direction, analysts said. Moving on to the retail sector, Credit Suisse cut Nordstrom’s price target to $75 from $76. The reason? Nordstrom recently completed the sale of its credit card portfolio to the Toronto-Dominion Bank (TD). The price target change reflects this action, analysts said. Overall, the retailer has a ‘unique’ strategic direction but for now, analysts are staying on the sidelines. The firm is keeping its NEUTRAL rating on the stock. TheStreet’s U-Jin Lee reports in New York.
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