Dell Rated As Market Perform By Wells Fargo

Dell, Inc. DELL is given a valuation range of $13-15 by Wells Fargo, an estimate based on a PE multiple of 10x. Dell is expected to post its F2Q 2011 earnings results on Thursday, August 19, and given the seasonality associated with the summer quarter, Wells Fargo does not expect to see material out-performance. Revenue growth is projected at 18.5% ($15.1B) led by strength in servers and services. Dell is currently rated as "market perform" by Wells Fargo, and closed yesterday at $12.10.