UPDATE: FBN Lowers PT on Dell to $19

FBN is out with its report today on Dell (NASDAQ: DELL), lowering its PT to $19 from $20.

In its report, FBN writes, "We reiterate our Outperform rating on DELL and lower our PT from $20 to $19."

FBN goes on to say, "We think that downside is limited unless we enter into a recession."

At the time of posting, shares of DELL were trading pre-market at $14.65, down 7.28% from Tuesday's close.