Needham & Company Reiterates a 'Buy' on Dell (DELL); Mix & Margin Focus Helps EPS Offset Consumer, Federal, & Western Europe

Needham & Company reiterates a 'Buy' on Dell (NASDAQ: DELL) price target of $17.00.

Needham analyst says, "In what has become a common occurrence, Dell missed revenue but exceeded earnings (handily) on tight management of the product mix. In our view, the only disappointment was that Dell did not more directly benefit in the quarter from the massive missteps at HP (NYSE: HPQ), choosing instead to avoid the low-end price wars (we expect share gains to manifest themselvesin the coming quarters despite this). Overall, Dell continues to execute well and should benefit in F4Q and F13 from its rapidly growing storage portfolio and the upcoming server refresh beginning early next year."

Needham raises FY12 EPS estimate from $2.00 to $2.14 and FY13 from $2.03 to $2.21.

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 $15.63 yesterday.

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