Dell gets PT raise from Melius Research as AI cloud provider spending grows
DELL•Street view and stock move
20 of 28 brokerages rate the stock "buy" or higher, eight "hold" and their median price target is $500, according to data compiled by LSEG.
DELL was down 2.6% at $477.69 in morning trading.
Up to the last close, the stock had nearly quadrupled this year.
Outlook and demand trends remain supportive
Melius says Dell's outlook for the rest of FY27 is "looking very conservative" given upside in servers and storage.
The brokerage adds that the recent strong results and capex increases at AI cloud providers mean more spending with Dell, even if the companies were to diversify a bit.
It also says some of the price hikes it is detecting for high-end laptops are so significant that Dell's revenue could grow even in the face of unit declines.
Melius raises Dell price target on AI server spending
Melius Research raises its price target on Dell Technologies to $650 from $565, implying an upside of about to the stock's last close.
