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Citigroup Ups Dell to Buy


From Standard & Poor's Equity Research

Citigroup upgraded Dell (DELL) to buy from hold, explaining that the company will bring its pricing back to levels consistent with 6% plus operating margin in the third quarter.

Analyst Richard Gardner notes that Dell will begin using AMD chips in desktops in September. Meanwhile Intel (INTC) should have more competitive processors in late July. Dell is also investing heavily to improve customer service, product quality, and design. He also thinks Vista will probably provide a boost to Dell's consumer sales in 2007. He set a $24 stock price target.


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