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UPDATE: Brean Murray Carret Reiterates Buy, $16 PT on Dell; Undervalued Asset

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Brean Murray Carret reiterates its Buy rating and $16 price target on Dell (NASDAQ: DELL) amid a softening PC environment.

Brean Murray Carret notes, "We continue to view Dell as an undervalued asset (see our sum of the parts in Figures 2 & 3), while also acknowledging N‐T catalysts are tough to identify in a softening PC environment (although it could already be in the numbers). While Dell fully acknowledges that the current demand environment has softened (particularly PC's), we also don't believe their expectations have much changed since the May 22nd earnings call. The ongoing strategy is to harvest the PC business for cash (52% of revenue) while investing in and driving enterprise growth (48% of revenue)."

DELL closed at $12.28 on Wednesday.

Latest Ratings for DELL

May 2013Morgan StanleyAssumesEqual-Weight
Mar 2013TopekaMaintainsBuy
Feb 2013BMO CapitalMaintainsMarket Perform

View More Analyst Ratings for DELL
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Posted-In: Brean Murray CarretAnalyst Color Reiteration Analyst Ratings


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