Quick Read – JPMorgan raised its Dell Technologies (DELL) price target to $280 from $205 on easing memory cost headwinds and accelerating AI server earnings power. – Dell’s $43 billion AI backlog and $50 billion FY2027 server revenue guidance position the company for durable…
lti-quarter earnings growth despite valuation concerns. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Dell Technologies wasn’t one of them. Get them here FREE
Dell Technologies (NYSE:DELL) just got another bullish nod from Wall Street. JPMorgan raised its price target on Dell Technologies to $280 from $205, keeping an Overweight rating, arguing that memory cost headwinds have eased even as the AI server franchise continues to scale. The firm cites the reversal of memory related concerns for the recent rally in the IT hardware group and now sees a clear runway for upward earnings revisions.
For long-term investors, the call reinforces a thesis that has been building all spring: Dell’s AI server backlog is translating into durable, multi-quarter earnings power. DELL shares last traded at $241, after running up 117% over the past year. The Analyst’s Case JPMorgan’s thesis hinges on two shifts.