Dell Inc. shares rose as much as 6.1 percent Thursday, gaining for a third trading day, after an analyst at UBS Securities LLC raised his price target on optimism for the computer maker’s new offerings for corporate customers.
Dell ended up 2.5 percent at $10.94 in New York, after earlier touching $11.33, the highest price since August. At Thursday’s high, the stock had risen 14 percent this week.
UBS’s Steven Milunovich said he spoke with executives including Marius Haas, Dell’s president of enterprise solutions, whose priority is broadening the audience for the company’s products. Milunovich said Dell’s corporate-product lineup has improved, and the Round Rock, Texas-based company is taking market share from Hewlett-Packard Co. and International Business Machines Corp. in some server markets.
“Dell has cobbled together an attractive portfolio of enterprise technology,” Milunovich wrote in a report Thursday. The analyst raised his 12-month price target on the shares to $10.50 from $9.75. He has a neutral rating on Dell stock.
© Copyright 2014 Bloomberg News. All rights reserved.