Sign In  |  Register  |  About Menlo Park  |  Contact Us

Menlo Park, CA
September 01, 2020 1:28pm
7-Day Forecast | Traffic
  • Search Hotels in Menlo Park

  • ROOMS:

Dell stock initiated at ‘buy’ ahead of earnings

By: Invezz
dell stock is a buy ahead of earnings

Dell Technologies Inc (NYSE: DELL) has been in a sharp uptrend in the trailing twelve months but a Loop Capital analyst is convinced it’s not out of juice just yet.

Dell stock has upside to $125

Ananda Baruah assumed coverage of the IT giant this morning with a “buy” rating. His $125 price target suggests another 37% upside from here.

The analyst recommends owning Dell stock primarily because he sees “material upside” to Street estimates. The New York listed firm is scheduled to report its financial results for the fourth quarter tomorrow (February 29th).

Consensus is for it to earn $1.48 a share versus $1.55 per share a year ago.

Watch here:

Note that $DELL does also pay a dividend yield of 1.62% at writing which makes up for another good reason to own it.

Dell stock will benefit from Gen AI

Ananda Baruah sees two major tailwinds that can help shares of Dell Technologies continue to rally in 2024.

First is a continued focus on generative artificial intelligence servers – and second is a PC refresh that he expects will increase the average selling price this year.

The Loop Capital analyst is positive on Dell stock because these trends may deliver a boost to its market share in “Fortune 1000 IT wallet spending”.

He sees potential for material re-rating in valuation as $DELL continues to improve its per-share earnings moving forward. The tech stock has way more than doubled since its 52-week low in early March of 2023.

The post Dell stock initiated at 'buy' ahead of earnings appeared first on Invezz

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.