Dell: S&P Ups to Hold, $15 Target

Shares of Dell (DELL) are still reeling from last night’s Q1 beat, down 92 cents, or 6.4%, at $13.40. As you’ll recall, Dell’s gross profit as a percentage of revenue came in below Street expectations.

Standard and Poor’s tech analyst Tom Smith, however, today upgraded the shares to “Hold” from “Sell,” writing that while he continues to see margin pressured by component shortages, there’s also the prospect that rising volume of sales could offset that somewhat.

Smith raised his price target on Dell to $15 from $13.

– Tiernan Ray, Barrons.com