Technology

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