Goldman Sachs reiterated its Sell rating on Dell DELL and reduced its price target from $11 to $9.
Goldman Sachs commented, "While Dell candidly discussed PC weakness last quarter and reset expectations accordingly, we believe the market and competitive dynamics have continued to worsen. In addition, Dell's penchant for sacrificing market share to preserve margins may become increasingly challenging to maintain as competitors become more aggressive. While Dell's margins may hold up better than its competition in coming quarters, its revenue and unit shortfalls may be more severe. Furthermore, we continue to believe incrementally weaker server demand (in traditional enterprises) will weaken Dell's near-term ability to counter PC weakness with its enterprise solutions business."
Dell closed at $10.04 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in