Goldman Sachs Downgrades Rating On Dell; Removes From Conviction List

April 1, 2022 7:29 AM | 1 min read | Make a Comment

Goldman Sachs analyst Rod Hall downgraded Dell Technologies Inc DELL to Neutral from Buy with a price target of $61, down from $68 (21.5% upside).
Hall also removed the shares from Goldman's Americas Convictions List.
Dell remains inexpensive compared to its peers.
However, he sees increasing fundamental headwinds hindering this value unlock.
The analyst notes that PC demand has already moderated for low-end consumers and higher-end demand to inflect by the end of this year.
Morgan Stanley recently downgraded Dell due to a dismal PC outlook, likely jeopardizing its valuation.
Price Action: DELL shares traded lower by 1.35% at $49.51 in the premarket on the last check Friday.