Sterne Agee Initiates Coverage On Dell With Neutral

According to Sterne Agee, Dell DELL coverage is initiated with Neutral. Sterne Agee reported that it is initiating coverage of DELL with a NEUTRAL rating and 12-month price target of $15. “Dell is a leading provider of IT infrastructure and differentiates itself in the market place with its direct model. Unlike Sony and Apple who focus on consumer, Dell's strength and focus is in the enterprise space. We arrive at our price target by assuming a 9x multiple on our CY11 estimate of $1.70.” Dell closed yesterday at $14.77.