Sterne Agee Maintains Neutral, $17 PT on Dell

Sterne Agee reiterates its Neutral rating and $17 price target on Dell, Inc.

as company posts decent quarter on strong execution. According to Sterne Agee, “DELL reported a decent October quarter where it missed consensus revenue but beat EPS by 7 cents. Gross margin came in surprisingly higher at 23.1% vs. consensus of about 22.5% as the company walked away from less profitable business and executed much better than expected on HDD shortages.” DELL closed at $15.63 per share on Tuesday.