Dell To $60? These Analysts Revise Price Targets On The Computer Maker Following Q3 Results

Dell Technologies Inc DELL reported posted better-than-expected earnings and sales results for its third quarter, but issued weak sales guidance for the fourth quarter.

Dell reported third-quarter revenue of $24.7 billion, which beat average analyst estimates of $24.53 billion. The company said third-quarter revenue was down 6% year-over-year. Dell reported third-quarter earnings of $2.30 per share, which beat estimates of $1.60 per share.

Dell shares fell 1.1% to $40.62 in pre-market trading.

These analysts made changes to their price targets on Dell following the release of quarterly results.

• Barclays cut the price target on the stock from $49 to $41. Barclays analyst Tim Long maintained an Equal-Weight rating on the stock.
• Citigroup slashed Dell price target from $55 to $53. Citigroup analyst Jim Suva maintained a Buy rating on the stock.
• UBS lowered the price target on Dell from $65 to $60. UBS analyst David Vogt maintained a Buy rating on the stock.
• Wells Fargo slashed the price target on Dell from $58 to $52. Wells Fargo analyst Aaron Rakers maintained the stock with an Overweight.
• Raymond James raised the price target on Dell from $47 to $50. Raymond James analyst Simon Leopold maintained the stock with an Outperform.