J.P. Morgan Maintains Underweight on Dell

J.P. Morgan is out with its report today on Dell DELL, maintaining Underweight. In its report, J.P. Morgan writes, "We maintain our Underweight rating on Dell. We still need to see more than just gross and operating margin improvements to become constructive on the stock. Specifically, we look for at- or above-peer revenue and profit growth at the same time. In the interim, though, the stock could become attractive to opportunistic investors looking to take advantage of any post-quarter weakness." J.P. Morgan maintains a $17.50 PT on DELL. At the time of posting, shares of DELL were trading pre-market at $14.78, down 6.46% from Tuesday's close.