Morgan Stanley says Dell Technologies (DELL) outperformed most of the key metrics investors were focused on for fiscal Q3, but given that the stock is a crowded consensus buyside long, along with a Q3 CSG miss and conservative Q4 guidance, the firm notes the after-market reaction, which it calls “overdone.” Post-earnings, the firm’s FY25 estimates falls just 50 basis points while its FY26 estimates remain largely unchanged at $110B of revenue and $10.50 of EPS, notes the firm, which would be buyers post-earnings and remains Overweight rated with an unchanged $154 price target on Dell.
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