Deutsche Bank Maintains Buy on Dell After Meeting with CCO

Deutsche Bank has published a research report on Dell

after the company's CCO Steve Felice attended a dinner hosted by Deutsche Bank at the 2012 Consumer Electronic Show. In the report, Deutsche Bank writes, "Dell has secured supply through 1Q, but expects the overall industry supply outlook to remain murky through 1Q. Dell also expects 2nd tier and whitebox vendors will be most impacted by supply shortages. Further, overall PC BOM costs are largely unchanged as other components, like LCD and memory price declines are more than offsetting tight HDDs. As a result of low inventory throughout the supply chain, we expect end market pricing to remain benign." Deutsche Bank maintains its Buy rating and $20 price target on Dell, which is currently trading down $0.12 from yesterday's $15.82 closing price.