UPDATE: Raymond James Starts Dell (DELL) at Outperform
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(Updated - January 29, 2019 7:12 AM EST)
(updated to add analyst comments)
Raymond James analyst Simon Leopold initiates coverage on Dell (NYSE: DELL) with a Outperform rating and $57 price target.
Leopold told clients to 'walk but don'r run to buy the stock'.
He said its debt burden and limited access to VMware's cash weighs on the stock’s value; however, they believe share gains and benefits from favorable enterprise spending patterns, along with de-levering its balance sheet, can unlock value.
Shares of Dell closed at $45.91 yesterday.
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