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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Dorine Essey who wrote (140345)	8/24/1999 12:25:00 PM
From: Ian@SI	Respond to of 176387

Re CNBC report: It's unlikely as SSB already upgraded Dell to Buy on Aug 19th with a price target of $60. Perhaps, I heard the CNBC teleprompter reader wrong. Ian. ++++++++++ DELL: UPGRADING FROM NEUTRAL TO BUY; NEW TARGET $60 Salomon Smith Barney Thursday, August 19, 1999 --SUMMARY:--Dell Computer--PCs Dell reported very strong 2Q99 results yesterday after the close of the market. Revenue of $6.14B (+42% yr/yr) was well ahead of our estimate of $6.0B and the consensus of $5.8-6.0B. Gross margin of 22.0% exceeded our expectations and the consensus of 21.5-21.7%. Diluted EPS of $0.19 were several pennies higher than our estimate and consensus of $0.17. We have been concerned about Dell's ability to sustain a cost advantage relative to the other PC vendors in the market; continuous improvements by Dell and an anemic response by some competitors have allowed Dell to maintain this advantage. In addition, the "new-initiative" inflection point we have been referring to seems to have passed. *Upgrading from Neutral to Buy with a new price target of $60.