Dell Technologies price target raised to $60 from $48 at Deutsche Bank

Deutsche Bank analyst Sidney Ho raised the firm’s price target on Dell Technologies to $60 from $48 and keeps a Buy rating on the shares. While Dell’s current valuation is roughly in line with peers, its estimates are more de-risked, as its full-year 2023 revenue guidance is below its peers, the analyst tells investors in a research note. Recent data points in the PC supply chain suggest inventory has normalized, implying PC shipments could be above-seasonal in the back half of the year, says the firm. It expects Dell’s shares to continue to outperform its peers.