Needham & Company Downgrades Dell (DELL) to Hold; That’s All, Folks - Stock Likely Range-Bound
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Price: $490.81 -0.75%
Rating Summary:
24 Buy, 21 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 21 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company downgraded Dell (NASDAQ: DELL) from Buy to Hold.
Analyst, Richard Kugele, said, "It’s been an impressive run YTD for Dell, rising over 24% (based on last night’s $18.21 closing price) and surpassing our $17 target as the fundamental improvements in its business mix were gradually recognized by investors. However, we see the stock limited to the $16-20 range near term as headwinds from the HDD shortage, lingering weakness in federal/state & local/US consumer spending, and continued pruning of the revenue mix combine to limit top-line growth and bottom-line leverage over the forecast period."
Needham lowers FY13 EPS estimate from $2.21 to $2.19 and revs from $64.129 bln to $63.781 bln.
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 $18.21 yesterday.
Analyst, Richard Kugele, said, "It’s been an impressive run YTD for Dell, rising over 24% (based on last night’s $18.21 closing price) and surpassing our $17 target as the fundamental improvements in its business mix were gradually recognized by investors. However, we see the stock limited to the $16-20 range near term as headwinds from the HDD shortage, lingering weakness in federal/state & local/US consumer spending, and continued pruning of the revenue mix combine to limit top-line growth and bottom-line leverage over the forecast period."
Needham lowers FY13 EPS estimate from $2.21 to $2.19 and revs from $64.129 bln to $63.781 bln.
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 $18.21 yesterday.
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