According to Jefferies, Dell DELL coverage is initiated with Hold rating.
Jefferies said that despite near-term benefits from falling PC component prices and the enterprise PC refresh cycle, we believe Dell has longer-term disadvantages in a tablet and cloud world. “Our $17 target is based on 9x our FY13 EPS estimate, which is below peers' 11x on CY12E and at the lower end of Dell's two-year historical NTM range of 8x-12x (average 10x). We believe a discount is warranted due to long-term tablet and cloud risks.”
Dell closed yesterday at $16.65.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in