Bernstein raised its twelve-month Dell (NASDAQ: DELL) stock price target from $280 to $500 on Monday, June 1, keeping an ‘Outperform’ rating thanks to ‘exceptionally strong’ quarterly results.
In his research note, analyst Mark Newman described the company as ‘firing on all cylinders,’ echoing the sentiment shared by others who have revised their forecasts since the earnings were published.
For instance, Morgan Stanley upgraded the tech firm from ‘Underweight’ to ‘Equalweight’ on the same day, raising its Dell stock target price from $170 to $448 on competitiveness in the artificial intelligence (AI) sector.
Specifically, researcher Erik Woodring said that Dell is one step ahead of its peers in managing the semiconductor supply chain shortage and is now gaining more ground in the traditional enterprise. This, he argued, helps assuage some investor fears regarding the memory cycle.
Dell stock price target raise
Barclays argued for something similar last week, raising its Dell share price prediction from $168 to $550 while maintaining an ‘Overweight’ rating on Thursday, May 28.
Notably, the firm highlighted Dell’s AI revenue and order volume, which remained strong not only during the past quarter but also for the fiscal year overall. As a result, the team set its AI server revenue target to $60 billion.
In a similar fashion, Woodring believes Dell is becoming increasingly more popular among Tier 2 cloud service providers. This, he says, is offsetting record input cost inflation, which can result in record yearly revenue.
At the same time, Mizuho Securities has also pushed its estimates from $350 to $435, which is approximately 23 times higher than its earnings per share estimate (EPS) for fiscal 2028.
Piper Sandler gave an even more bullish prediction, raising its Dell share price target from $167 to $497, with an ‘Overweight’ rating. In fact, analyst James Fish claimed the latest quarterly results were among the best in the industry and remains convinced the momentum will continue as AI modernization speeds up.
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