Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Evercore Upgrades Dell, Calls FY23 Outlook Conservative

  • Evercore ISI analyst Amit Daryanani upgraded the rating on Dell Technologies Inc (NYSE:DELL) to Outperform from In-Line due to several factors, including what he called the company's "very conservative" for its 2023 fiscal year outlook.
  • Daryanani believes Dell will surpass its Q1 FY22 forecasts due to "share gains across [Dell's] PC and infrastructure segments," as well as a recovery in the high-end storage market.
  • Daryanani said a key factor on Dell is how the high-end storage market reacts to International Business Machines Corp's (NYSE:IBM) next cycle of new mainframe computers.
  • Additionally, Daryanani set a price target of $60 a share on Dell's stock (21.4% upside).
  • Price Action: DELL shares traded higher by 2.47% at $50.55 on the last check Tuesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.