UPDATE: J.P. Morgan Color on Dell PT Increase

J.P. Morgan, which raised its PT on shares of Dell Inc. DELL, is providing some color on the stock. “We expect shares of Underweight-rated Dell to be upward-biased in the near term. Revenue missed the Street consensus for the third straight quarter, but gross margin once again outperformed,” J.P. Morgan writes. “While we believe smarter business practices are helping to prop up the gross margin profile, we still question the sustainability of the elevated margin structure longer term. “Overall, we think that Dell's inability to beat on both the top line and the bottom line could limit the stock's relative outperformance potential.” Dell closed Tuesday at $15.90.