Dell

Dell Technologies Inc. (NYSE:DELL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 17.06% UBS $80 → $99 Maintains Buy 01/08/2024 6.42% JP Morgan $77 → $90 Upgrades Neutral → Overweight 01/03/2024 6.42% Bernstein $80 → $90 Maintains Outperform 12/01/2023 -8.95% JP Morgan $76 → $77 Maintains Neutral 12/01/2023 1.69% Goldman Sachs $78 → $86 Maintains Buy 12/01/2023 0.51% Wells Fargo $80 → $85 Maintains Overweight 12/01/2023 -3.04% Raymond James $68 → $82 Maintains Outperform 11/20/2023 12.33% Melius Research → $95 Initiates Coverage On → Buy 10/06/2023 5.24% Morgan Stanley $87 → $89 Maintains Overweight 10/03/2023 2.87% Morgan Stanley $70 → $87 Maintains Overweight 09/25/2023 -11.32% Deutsche Bank $68 → $75 Maintains Buy 09/22/2023 -5.4% Citigroup $70 → $80 Maintains Buy 09/19/2023 -5.4% Daiwa Capital $50 → $80 Upgrades Neutral → Outperform 09/11/2023 -5.4% Evercore ISI Group $70 → $80 Maintains Outperform […]

Dell Technologies Inc. (NYSE:DELL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/08/2024 17.25% JP Morgan $77 → $90 Upgrades Neutral → Overweight 01/03/2024 17.25% Bernstein $80 → $90 Maintains Outperform 12/01/2023 0.31% JP Morgan $76 → $77 Maintains Neutral 12/01/2023 12.04% Goldman Sachs $78 → $86 Maintains Buy 12/01/2023 10.73% Wells Fargo $80 → $85 Maintains Overweight 12/01/2023 6.83% Raymond James $68 → $82 Maintains Outperform 11/20/2023 23.76% Melius Research → $95 Initiates Coverage On → Buy 10/06/2023 15.95% Morgan Stanley $87 → $89 Maintains Overweight 10/03/2023 13.34% Morgan Stanley $70 → $87 Maintains Overweight 09/25/2023 -2.29% Deutsche Bank $68 → $75 Maintains Buy 09/22/2023 4.22% Citigroup $70 → $80 Maintains Buy 09/19/2023 4.22% Daiwa Capital $50 → $80 Upgrades Neutral → Outperform 09/11/2023 4.22% Evercore ISI Group $70 → $80 Maintains Outperform 09/07/2023 -30.95% Barclays → $53 Downgrades Equal-Weight →

JPMorgan analyst Samik Chatterjee upgrades Dell Technologies (NYSE:DELL) from Neutral to Overweight and raises the price target from $77 to $90.

Dell Technologies Inc.’s stock (DELL) rose 2.5% in premarket trading on Monday after JP Morgan upgraded the company to overweight from neutral. “We are more positively inclined toward the AI-driven compute investment cycle, which will benefit branded server companies…even as the drivers for the remaining businesses are more mixed, being subject to the macro backdrop,” analysts said. JPMorgan raised its revenue and earnings forecasts for Dell due to its “higher confidence” in the sustainability of a stronger growth rate in Dell’s infrastructure solutions group led by a “stronger compute investment cycle.” JPMorgan sees Dell generating double-digit earnings growth as its “cycles past the macro pressures on PCs as well as general-purpose servers.” -Steve Gelsi

Dell Technologies Inc. (NYSE:DELL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/03/2024 20% Bernstein $80 → $90 Maintains Outperform 12/01/2023 2.67% JP Morgan $76 → $77 Maintains Neutral 12/01/2023 14.67% Goldman Sachs $78 → $86 Maintains Buy 12/01/2023 13.33% Wells Fargo $80 → $85 Maintains Overweight 12/01/2023 9.33% Raymond James $68 → $82 Maintains Outperform 11/20/2023 26.67% Melius Research → $95 Initiates Coverage On → Buy 10/06/2023 18.67% Morgan Stanley $87 → $89 Maintains Overweight 10/03/2023 16% Morgan Stanley $70 → $87 Maintains Overweight 09/25/2023 0% Deutsche Bank $68 → $75 Maintains Buy 09/22/2023 6.67% Citigroup $70 → $80 Maintains Buy 09/19/2023 6.67% Daiwa Capital $50 → $80 Upgrades Neutral → Outperform 09/11/2023 6.67% Evercore ISI Group $70 → $80 Maintains Outperform 09/07/2023 -29.33% Barclays → $53 Downgrades Equal-Weight → Underweight 09/01/2023 -8% UBS $57 → $69 Maintains Buy 09/01/2023 -6.67%

Citi analyst Asiya Merchant reiterated a Buy rating on Dell Technologies Inc (NYSE:DELL). With Dell’s stock significantly outperforming peers and trading at a modest valuation premium to peers, investors were skeptical as to whether near-term commentary could sustain share price momentum, the analyst shared. PC commentary intra-quarter contained upside regarding improving Y/Y trends and profitability, while enterprise infrastructure spending remained tempered but stable. Dell’s second-half implied guide already baked in slight, albeit sub-seasonal improvements, reflecting a more prudent conservative stance. Ahead of CY24, Merchant was optimistic about PC demand recovery, resumption in enterprise/compute/storage in the second half of FY24, and Dell’s AI server opportunities that have the potential to accelerate once GPU supply constraints lift. Dell remained exceptionally well positioned in its core markets versus its peers. Given the company’s strong discipline towards operational expense management, there was improving FCF generation (as PC demand recovers, working capital improves) and increased emphasis on shareholder returns. S&P