UPDATE: Goldman Sachs Lowers Price Target On Dell To $11

According to Goldman Sachs, Dell DELL price target is lowered to $11. Goldman Sachs said that Dell reported non-GAAP EPS of $0.54 ahead of its and Street estimates of $0.53 and $0.49, but revenues were light versus expectations and EPS benefited from $0.04 in one-time items. “We lower our 12-month price target to $11 from $12 based on an 8X multiple (unchanged) on our CY2012 EPS estimate of $1.33 ($1.36 prior).” Dell closed yesterday at $15.80.