Bank of America Merrill Lynch Maintains Buy on Dell

Bank of America Merrill Lynch is out with its report today on Dell DELL, maintaining Buy. In a note to clients, Bank of America Merrill Lynch writes, "We believe low investor sentiment, compressed valuation, possible enterprise refresh, and likely positive EPS revisions, position the shares to outperform in 2011. We expect Dell to be a major beneficiary of a potential enterprise refresh (50% of sales and operating profits). We believe potential cost savings from any restructuring initiatives could provide upside to our estimates." Shares of DELL closed Tuesday at $16.01, up 0.44% from Monday's close.