BUZZ-Dell down; Truist Securities starts with 'hold' on memory cost inflation

Reuters03-31
BUZZ-<a href="https://laohu8.com/S/DELL">Dell</a> down; Truist Securities starts with 'hold' on memory cost inflation

** Shares of AI-optimized server maker Dell Technologies DELL.N fall 4.5% to $157.30

** Truist Securities begins coverage with "hold" rating, citing caution around co's exposure to memory cost inflation, shrinking gross margins amidst a sharp underlying mix shift towards AI servers

** Brokerage sets $170 PT on DELL, implying ~3% upside to the stock's last close

** "We are positive on DELL’s significant scale across AI/traditional servers, Storage and PCs, with a sizable backlog in AI servers providing enhanced revenue visibility" - brokerage

** 20 of 26 brokerages rate the stock "buy" or higher, five "hold" and one "sell"; their median PT is $168 - data compiled by LSEG

** As of last close, stock up ~31% this year

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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