UPDATE: Deutsche Bank Color on Dell PT Increase

Deutsche Bank, whichraised its PT on shares of Dell DELL, is providing some color on the stock. “Dell posted revs of $15.0B and non-GAAP EPS of $0.55 which beat EPS expectation by a wide margin (Street at $15.4B/$0.43; DB at $15.4B/$0.45),” Deutsche Bank writes. “Margin upside (adjusted GM's of 23.4% vs. DB at 20%) was driven by supply chain improvements, pricing discipline and a favorable component environment. “With the corporate upgrade cycle in its early stages and healthy Enterprise/SMB and Services contribution, we view Dell as attractive at ~4x CY12 EPS x-cash (~3x EV/EBITDA).” Dell closed Tuesday at $15.90.