Barclays Capital analyst Ben Reitzes this morning hiked his forecast for 2010 PC unit growth to 21%, from 16%. For 2011, he now sees 14% growth, up from 13%.
Reitzes says the higher forecast reflects “indications that corporate PC demand continues to improve, some incremental strength in Europe” and checks with the supply chain “that point toward sequential growth” in Q2.
Reitzes notes that his forecasts do not include the Apple (AAPL) iPad; he expects the tablet to sell 4.9 million units in calendar 2010 and 8.7 million in calendar 2011.
To reflect the higher forecast, Reitzes lifted his EPS forecast for Dell (DELL) for the fiscal year ending January 2011 to $1.27, from $1.25; for FY 2010 he continues to see $1.43. Reitzes maintains his Equal Weight rating on Dell, but lifts his price target to $17, from $16.
DELL is down 8 cents, at $16.68.
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