Goldman Sachs Cuts Numbers on Dell (DELL) Following Results/Outlook
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Price: $13.35 --0%
Rating Summary:
9 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 10
Rating Summary:
9 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 10
Trade DELL Now!
Goldman Sachs lowered estimates and its price target on Sell-rated Dell (NASDAQ: DELL) from $12 to $11 following Q2 results.
The firm states, "We expect gross margins will be pressured by more aggressive PC pricing in coming quarters, and these headwinds could be exacerbated by macro weakness and elevated opex. In addition, we believe Dell’s long-term enterprise goals would require it to invest through periods of revenue or gross margin pressure, leaving few buffers for the bottom line."
For more ratings news on Dell click here and for the rating history of Dell click here.
Shares of Dell closed at $15.80 yesterday, with a 52 week range of $11.34-$17.60.
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The firm states, "We expect gross margins will be pressured by more aggressive PC pricing in coming quarters, and these headwinds could be exacerbated by macro weakness and elevated opex. In addition, we believe Dell’s long-term enterprise goals would require it to invest through periods of revenue or gross margin pressure, leaving few buffers for the bottom line."
For more ratings news on Dell click here and for the rating history of Dell click here.
Shares of Dell closed at $15.80 yesterday, with a 52 week range of $11.34-$17.60.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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