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

To: Sig who wrote (173672)	12/18/2003 9:07:15 AM
From: kaka	Read Replies (1) \| Respond to of 176387

Sig, Sell more Michael...sell more!! Dell initiated with "buy" Thursday, December 18, 2003 4:18:07 AM ET A.G. Edwards & Sons NEW YORK, December 18 (New Ratings) - Analysts at AG Edwards initiate coverage of Dell, Inc (DELL) with a "buy" rating. The 12-month price objective is set to $50. Shares of Dell, a leading direct marketer of personal computers, notebook computers, servers and software products, are currently trading at $32.61. According to AG Edwards’ research note dated December 16 and published yesterday, Dell has been earning profits in the PC market consistently since 1997. The company has continued to gain market share and has bright growth prospects from the introduction of new products, the analysts say. Although notebook manufacturing is outsourced, Dell produces most of its other products, thereby maintaining its industry-leading operating margins, the analysts add. According to AG Edwards, Dell has captured 17-18% share of the desktop PCs market and 15-16% share of the portables market. The sluggishness in the PC market, instability in component pricing and pricing pressures are potential risk factors for the company, the analysts say. The company’s margin expansion and increased penetration of the international markets would boost its long-term growth, the analysts believe. The EPS estimates for 2003, 2004, 2005 and 2006 are $0.81, $1.02, $1.23 and $1.48, respectively. The P/E estimates for 2004, 2005 and 2006 are 32.0x, 26.5x and 22.0x, respectively. AG Edwards initiates coverage of Dell with a "buy" rating.