Sterne Agee Upgrades Dell (DELL) to Neutral

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Sterne Agee upgraded Dell (NASDAQ: DELL) from Underperform to Neutral after share hit their $15 price target, declining 17% since their downgrade in mid-February versus a 2% decline in both the S&P 500 and NASDAQ.

Analyst Shaw Wu states, "While we remain concerned with the company's fundamental position, we believe investor expectations have reset and downside likely limited with shares trading at 7x CY13 EPS (5x ex. net cash)."

For an analyst ratings summary and ratings history on Dell click here. For more ratings news on Dell click here.

Shares of Dell closed at $15.02 yesterday, with a 52 week range of $13.29-$18.36.

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