Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Dell

Related DELL
Top Bitcoin News: Dell, Proposed Regulation, And A U.S. Exchange
3D Printing Enters The Retail Space At Home Depot

In a report published Friday, Deutsche Bank reiterated its Buy rating on Dell (NASDAQ: DELL), but lowered its price target from $16.00 to $13.00.

Deutsche Bank noted, “Dell posted revs of $13.7B and non-GAAP EPS of $0.39, which missed expectations (vs. DB and Street at $13.9B/$0.40). Solid server results offset expected weakness in PCs and OMs of 6.5% were roughly in-line. Dell maintained FY13 non-GAAP guidance of $1.70+ (vs. Consensus at $1.73) but visibility remains poor. We cut est's and PT to $13, but at ~$9.30 in the aftermarket & 3x CY13 EPS x-cash DELL remains inexpensive, in our opinion.”

Dell closed on Thursday at $9.56.

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (DELL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters