Dell Technologies price target lowered to $156 from $160 at Citi

Citi lowered the firm’s price target on Dell Technologies (DELL) to $156 from $160 and keeps a Buy rating on the shares. The stock traded down 10% post earnings as reported revenue and guidance missed expectations, largely on artificial intelligence revenues and more tempered PC, the analyst tells investors in a research note. However, the firm says Dell remains confident in continued growth drivers across all segments with a robust AI pipeline, mainstream server recovery gaining momentum coupled with storage momentum and a PC recovery taking hold.