Dell Technologies price target lowered to $51 from $60 at Bernstein

Bernstein lowered the firm’s price target on Dell Technologies to $51 from $60 and keeps an Outperform rating on the shares. Dell’s revenue and EPS "handily beat" expectations in Q4, but the company noted that enterprise demand remained weak and guided to weaker than expected revenues for Q1 and for FY24, the analyst tells investors. In the near-term, the firm sees the stock as "likely to tread water," but it sees a favorable risk-reward as it believes that the company will "continue to be a structural share gainer and a best-in-class operator over the long term."