Morgan Stanley analyst Erik Woodring upgraded Dell Technologies to Overweight from Equal Weight with a price target of $55, up from $45. The firm contends that the worst of the PC downcycle is likely in the past, forecasting Dell to outperform alongside the rebound in the PC market that would be similar to past PC cycles. Dell’s management has also been ultra-conservative in guiding FY24, which limits negative earnings revisions risk for the stock, Morgan Stanley adds.
Published first on TheFly
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