:max_bytes(150000):strip_icc()/GettyImages-2165430469-361084cd75d94d289a007f4e60449469.jpg?w=780&resize=780,470&ssl=1 "Why Morgan Stanley Raised Its Price Target for Dell Ahead of Earnings Next Week")
Key Takeaways
- Dell Technologies is “gaining momentum” with its AI server business, Morgan Stanley said.
- The bank significantly raised its price target for Dell stock with the company’s quarterly earnings results due next week.
- Morgan Stanley’s new target is roughly in-line with the analyst consensus, according to Visible Alpha.
Dell Technologies’ (DELL) artificial intelligence server business is “gaining momentum,” Morgan Stanley told clients Tuesday.
The bank raised its price target for Dell stock to $126 from $89, a more than 40% increase, with the tech firm’s earnings due out next Thursday. The revision brings Morgan Stanley more in line with the analyst consensus of $131, which is tracked by Visible Alpha.
Shares of Dell rose 1% to above $115 in recent trading Wednesday, giving Morgan Stanley’s target 9% upside.
“DELL’s AI server business is gaining momentum,” Morgan Stanley said. The company could see nearly $20 billion in AI server revenue this year, the analysts added, amid an AI infrastructure market that has swelled to more $150 billion. Meanwhile, general server demand “remains stable” with Dell picking up market share.
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