Daiwa analyst Louis Miscioscia raised his rating on the computer maker to Outperform. His price target implies a 16% gain from Monday's closing price.
Dell Technologies stock was rising Tuesday after a Daiwa Capital Markets analyst raised his rating on the computer maker, citing improving demand.
“The demand slowdown since 2HCY22 seems to be abating,” Miscioscia said a research note Monday. “Two new big positives are macro tech demand improving and AI sales ramping, both aid long term growth potentials.” A report from the market research firm IDC on Aug. 28 raised hope for better times, saying that while consumer demand is in a tough spot given stubbornly high inflation, PC shipments are forecast to grow 3.7% year over year in 2024.
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