Citi Reiterates Buy Rating on Dell (DELL), 'The risk is fairly limited'

Citi analyst Asiya Merchant reiterated a Buy rating and $125.00 price target on Dell (NYSE: DELL).

The analyst said: "On March 25, the Financial Times reported that China has implemented new guides that the government will phase out the use of US microprocessors, notably from INTEL and AMD. China has been backing government and state-owned enterprises to replace foreign branded PCs with local PCs since 2022. According to IDC, China’s government accounted for c.5% of unit share in 2023, with commercial (government +enterprise) c.43% of total. Given Dell’s and HP’s China PC revenue contribution is 5-7% (in total including government and enterprises), we think the risk is fairly limited and we maintain our Buy ratings."

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 $112.24 yesterday.

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