Evercore ISI Downgrades Dell On 'More Muted' Upside

December 14, 2021 9:22 AM | 1 min read |

Evercore ISI analyst Amit Daryanani downgraded Dell Technologies Inc DELL to In-Line from Outperform with an unchanged price target of $63, implying a 13.1% upside.
Following the 60% appreciation year-to-date, he sees incremental upside being "more muted" amid a moderating PC market, Daryanani said.
While Daryanani expects 2022 to be a year of sustained tailwinds, "not all boats will rise equally this time around," the analyst said.
The analyst added that he anticipates an uptick in on-premise and hybrid spending in 2022, notably across networking and storage, but expects PCs to moderate.
Dell recently lost its position on JPMorgan Analyst Focus List.
Price Action: DELL shares traded lower by 2.19% at $54.50 in premarket on the last check Tuesday.