Barclays Maintains an 'Equalweight' on Dell (DELL); Cutting Outlook to Reflect Weakness in PCs

Barclays maintains an 'Equalweight' on Dell (NASDAQ: DELL) price target of $13.00 (from $14.00).

Analyst, Ben A. Reitzes, said, "Dell's performance and outlook suggest a much softer 2H for PCs due to tablet cannibalization even in corporate markets and a pause ahead of Windows 8 in the consumer market. Our checks indicate significant market confusion around Ultrabooks and Windows 8 (is it for tablets or not?)..."

Q3 EPS estimate lowered from $0.46 to $0.40, FY13 from $1.82 to $1.75 and FY14 from $1.75 to $1.65. FY13 revenues cut to $57.57B from $59.43B and FY14 to $57.36B from $60.02B.

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 $12.34 yesterday.

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