Dell Technologies price target raised to $84 from $80 at Citi

Citi raised the firm’s price target on Dell Technologies to $84 from $80 and keeps a Buy rating on the shares ahead of the fiscal Q3 report. With Dell’s stock significantly outperforming peers and trading at a modest valuation premium to peers, investors are skeptical as to whether near-term commentary could sustain share price momentum, the analyst tells investors in a research note. The firm says PC commentary intra-quarter contained upside regarding improving year-over-year trends and profitability, while enterprise infrastructure spending remains tempered but stable. Citi says Dell’s S&P 500 inclusion remains a potential catalyst.