Lagging Dell Stock Looks Like a Bargain

A bullish Evercore ISI report Tuesday on Dell Technologies highlighted the asset value in the company, whose shares have badly lagged the technology sector and software company VMware , Dells most valuable asset, so far this year.Evercore analyst Amit Daryanani valued Dell (DELL) at $90 a share on a sum-of-the-parts basis, a big premium to the companys current share price. Dell shares were up 89 cents, or 1.8%, to $51.52 Tuesday.Our SOTP [sum of the parts] analysis suggests that Dell could be worth around $90 using a fairly conservative set of assumptions surrounding the value of individual business units, Daryanani wrote. VMware shares (VMW) gained $2.80, or 1.7%, to $169.67 Tuesday.Dell amounts to a technology conglomerate. Its a leading maker of personal computers, servers, and storage devices with total annual sales of around $90 billion, and it also holds stakes in three publicly traded companies VMware, Secureworks , and Pivotal Software (PVTL).