Barclays Downgrades Dell (DELL) to Underweight, 'don’t think AI will be enough'

Barclays analyst Tim Long downgraded Dell (NYSE: DELL) from Equalweight to Underweight with a price target of $53.00.

The analyst comments "We downgrade shares of DELL to Underweight from Equal Weight after the recent run-up in the stock. We see challenges in the PC and Server/Storage end markets on challenging macro, and don’t think AI will be enough to offset these pressures. Valuation has moved out of near- and long-term trading ranges."

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 $70.47 yesterday.

You May Also Be Interested In

• Barclays Starts Centrus Energy Corp. (LEU) at Equalweight
• Tango Therapeutics Inc. (TNGX) PT Raised to $68 at H.C. Wainwright
• Alpha Cognition Inc (ACOG) PT Raised to $20 at H.C. Wainwright