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UPDATE: Jefferies Raises PT to $13.65 on Dell Post LBO Bid

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Jefferies maintained Dell (NASDAQ: DELL) with a Hold rating and raised the price target from $13.00 to $13.65.

Jefferies noted, "Revising our LBO analysis to account for the details found in the M&A agreement, we believe that the bid could be raised to $15 to satisfy agitated shareholders. While many shareholders would obviously like a higher bid, we see competing offers as unlikely. We estimate $15 would yield a 20%-23% IRR (see Exhibit 1) and believe private equity would be unlikely to accept a lower rate."

Dell closed at $13.70 on Monday.

Latest Ratings for DELL

DateFirmActionFromTo
May 2013Morgan StanleyReinstatesEqual-weight
Mar 2013Topeka CapitalMaintainsBuy
Feb 2013BMO CapitalMaintainsMarket Perform

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View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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