Dell (DELL) PT Raised to $121 at BofA Securities Into Q2 Earnings
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Rating Summary:
22 Buy, 14 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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BofA Securities analyst Wamsi Mohan raised the price target on Dell (NYSE: DELL) to $121.00 (from $116.00) while maintaining a Buy rating, saying the recovering enterprise demand and upcoming spinoff are key drivers in the near term.
The analyst commented, "Dell reports F2Q22 earnings on Thu Aug 26th after market close. We expect DELL to report a solid qtr with strength in servers, storage based on recovering enterprise demand in the qtr. We remain a bit more cautious on the outlook given the recent surge from COVID Delta variant and for F3Q we model overall Dell revenue to decline 2% q/q. We do not expect any significant changes in the narrative given the pending spin and analyst day. We reiterate Buy on Dell on expected spin-off of VMWare, and continuing share gains in PC, server, storage."
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