Morgan Stanley lowered the firm’s price target on Dell Technologies to $45 from $47 and keeps an Equal Weight rating on the shares. Q4 revenues were strong, mainly due to commercial PC strength, but Dell guided FY24 revenues and EPS 5% and 16%, respectively, below consensus due to incremental demand weakness in ISG and CSG, the analyst tells investors. The firm, which thinks Dell’s outlook "looks conservative," is watching for signs of stabilization.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on DELL:
- Dell Technologies price target lowered to $40 from $41 at Barclays
- DELL Up after Blasting Past Estimates
- Dell Technologies CFO Tom Sweet to retire, Yvonne McGill to succeed
- Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2023 Financial Results
- Dell Technologies raises annual cash dividend 12% to $1.48 per share