Why Dell Technologies Stock Rocketed 4% Higher on Friday
Repeating its encouraging performance from the day before, Dell Technologies (NYSE: DELL) stock had a fine Friday. The storied tech retailer's share price increased a robust 4% on the day, trouncing the 1.5% gain of the S&P 500, thanks to a set of price target raises from analysts.
This development came one day after Dell delivered its latest quarterly earnings figures. Happily for investors, first-quarter revenue and -- especially -- non-GAAP (adjusted) net income convincingly beat the average prognosticator estimates.
While it was hardly surprising that analysts would make upward adjustments in their Dell evaluations following such performance, it seems the market wasn't ready for the stampede that occurred. All told, no less than nine pundits raised their price targets on the shares Friday.
Source Fool.com
