Auriga Reiterates Buy on Dell

Auriga reiterated its Buy rating on Dell DELL ahead of the company's analyst day, which will be held on June 28 and 29. In a research report published today, Auriga states, "We continue to believe Dell can grow its top-line roughly in-line with overall IT spending as it transforms itself into a full-service enterprise vendor over the next several years. The real allure to investors is likely to be the slow and steady margin expansion story that accompanies that transformation. While there may be bumps in the road along the way, attractive free cash flow, returns on capital and valuation suggest to us that shares remain a good buy for value-oriented investors." At the moment, Auriga has a price target of $25 placed on the company's stock. On Wednesday, Dell lost 0.73% of its value to finish the day at $16.21. Its shares continued to slide in today's pre-market trading, falling 0.37% to stand around $16.15.