UPDATE: Citi Downgrades Dell to Neutral

According to Citi, Dell (NASDAQ: DELL) is downgraded to Neutral.

Citi said that it is downgrading the shares of Dell from Buy to Neutral with a revised target of $19. “With prospects for additional margin expansion slim (at least in the near term), we do not feel that investors should be chasing a 24% YTD rally in the stock.”

Dell closed yesterday at $18.21.