Dell Technologies price target raised to $47 from $45 at Morgan Stanley

Morgan Stanley analyst Erik Woodring raised the firm’s price target on Dell Technologies to $47 from $45 and keeps an Equal Weight rating on the shares. The firm is cutting its 2023 PC market forecast "again" to 249M shipments, from 261M, as both consumer and commercial market weakness is prolonged by softer-than-expected demand and elevated inventory, but adds that it expects declines to trough in Q1, indicating "the potential to finally get more positive PC OEMs post-earnings."