JPMorgan analyst Samik Chatterjee removed Dell Technologies Inc (NYSE: DELL) from the firm's Analyst Focus List.
- JPMorgan analyst Samik Chatterjee removed Dell Technologies Inc (NYSE:DELL) from the firm's Analyst Focus List.
- Chatterjee removed the stock, noting Dell is past an "event-driven catalyst," though he continues to rate shares overweight, citing its exposure to Enterprise IT spending and "superior execution."
- Dell shares have gained 95% year-to-date and more than 55% since being added to the AFL list.
- Dell is cycling past the event-driven catalyst in the form of the VMware Inc (NYSE:VMW) spinoff, Chatterjee tells investors in a research note.
- He keeps an Overweight rating on Dell with a $75 price target.
- Last week, Dell raised $2.25 billion via private debt offering to fund the repurchase of specific existing notes.
- Related Content: Analysts Tick Up Dell Price Target Post Q3 Beat
- Price Action: DELL shares traded lower by 2% at $56.45 on the last check Monday.