Dell Stock Holds On to Buy Ratings After Post-Earnings Slump -- Barrons.com
Dell Technologies was getting a thumbs-up from analysts on Wednesday even though investors were shunning the stock.To be sure, the earnings, which came after the market closed on Tuesday, weren't that bad. The company beat expectations for earnings per share, but missed slightly on top-line revenue and provided guidance for the current quarter that was a bit soft. That was enough to push the stock down more than 12% to $124.75 in premarket trading Wednesday.That could be an opportunity to buy the dip. The company said that orders for its artificial-intelligence services are still picking up, even if demand in non-AI areas such as PCs or storage may be weakening.He wasn't alone in recommending the shares. Citi analyst Asiya Merchant tweaked his price target for Dell stock to $156 from $160, but still maintained a Buy rating. Evercore ISI strategists led by Amit Daryanani kept their Outperform rating and $150 target.