$60 Dell? These analysts revise the computer maker’s price targets after third-quarter results – Dell Technologies (NYSE:DELL)
Dell Technologies Inc. Dell reported shows results that exceed expectations and sales results for its third quarter, but issued a weak fourth quarter sales guidance.
Dell reported third-quarter revenue of $24.7 billion, beating analysts’ average estimate 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, beating estimates of $1.60 per share.
Dell shares fell 1.1% to $40.62 in premarket trading.
These analysts changed their price targets on Dell after the release of quarterly results.
- Barclays cut the target share price from $49 to $41. Barclays analyst Tim Long maintained an equal weight rating on the stock.
- Citigroup cut Dell’s 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 cut the price target on Dell from $58 to $52. Wells Fargo analyst Aaron Rakers kept the stock at an overweight.
- Raymond James raised the price target on Dell from $47 to $50. Raymond James analyst Simon Leopold held the stock up with an outperformance.
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