Morgan Stanley upgrades after Dell stock soars

环球市场播报06-02

　　Morgan StanleyAnalysts said Monday that inDellAfter the company's shares soared 33% on Friday and posted its best single-day performance on record, they admitted their previous judgment was wrong.

Analyst Erik Woodring and colleagues wrote in a note Monday: "Our memory chip supply judgment is wrong. Dell is doing better than its peers in supply chain management and execution, which allows the company to capture critical demand, gain market share and gain pricing power."

They raised their rating on Dell to Hold on the sidelines from Underweight and raised their price target to $448 from $170. The stock was trading around $460 in afternoon trading Monday.

"Dell has an advantage over many of its enterprise-level peers when it comes to acquiring supply of memory chips and pricing them," Woodring wrote.

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