JPMorgan analyst Samik Chatterjee removed Dell Technologies Inc. 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 percent year-to-date and more than 55 percent since being added to the AFL list.
Dell is cycling past the event-driven catalyst in the form of the VMware Inc. 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.
By Anusuya Lahiri
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