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Jefferies Maintains a 'Hold' on Dell (DELL); Revenues/EPS Guidance Solid but GM Pressured, EPS Light

February 22, 2012 1:37 PM EST
Get Alerts DELL Hot Sheet
Price: $111.68 --0%

Rating Summary:
    22 Buy, 14 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 3 | New: 1
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Jefferies maintains a 'Hold' on Dell (NASDAQ: DELL) price target raised from $15 to $17.

Jefferies analyst says, "Dell reported results that met consensus revenues but slightly missed consensus EPS expectations due to weak GM (21.7% vs. St 22.6%, JEF 22.0%). As we expected, FY13 (Jan) EPS guidance was optimistic. We continue to see secular PC margin headwinds offsetting Dell's server/storage margin tailwinds, we expect Dell to make a software acquisition."

Jefferies raises FY13 EPS estimate from $1.98 to $2.15, but cuts revenues from $63,851.0Mln to $62,625.0 Mln.

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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