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Technology Stocks : Dell Technologies Inc.
DELL 133.18-0.1%Nov 28 12:59 PM EST

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To: stockman_scott who wrote (176171)5/14/2009 2:18:47 PM
From: kaka  Read Replies (1) of 176387
 
May 14, 2009, 10:51 am
Dell: Time To Sell, Says S&P Analyst

Posted by Eric Savitz

Standard & Poor’s analyst Tom Smith this morning cut his rating on Dell (DELL) to Sell from Hold, while keeping his price target of $9.50, below yesterday’s close at $10.94.

Smith notes that the PC maker will report earnings for the fiscal first quarter ended April on May 28; today he moved up his estimate for the quarter to 21 cents from 19 cents. (The Street is at 23 cents.) But he nonetheless still thinks the company will be hard hit by an IT spending downturn that will last through the end of calendar 2009. He keeps his EPS estimate for the January 2010 year at $1.05, but cuts FY 2011 to $1.25, from $1.35. Street estimates are for $1.03 for FY 2010, and $1.21 for FY 2011.

DELL is down 5 cents at $10.89.
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