Business

MARKET MOVERS

Goldman Sachs changes its mind on Dell

Dell stock has slumped as more consumers shift from PCs to mobile devices.

Thomas Peter/Reuters/File 2010

Dell stock has slumped as more consumers shift from PCs to mobile devices.

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Goldman Sachs did a 180 ­degree turn on Dell Inc., Dow Jones reported, canceling its “sell” recommendation of the past two years and urging investors to buy stock in the country’s third-largest maker of personal computers. The firm also raised its price target on the stock to $13 from $9. “While we remain cautious on PC and server demand trends,” Goldman wrote, Dell has a healthy cash balance and a recent decline in the stock may have been overdone.

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