Why Dell Technologies Stock Is Moving Higher Today
Portfolio Pulse from Dylan Berman
Dell Technologies shares are trading higher following positive analyst coverage from Morgan Stanley, which raised the price target from $128 to $152 due to accelerating momentum in Dell’s AI server and storage businesses.
May 15, 2024 | 5:18 pm
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Morgan Stanley has maintained an Overweight rating on Dell Technologies and raised the price target from $128 to $152, citing strong momentum in Dell’s AI server and storage businesses. The firm also highlighted a significant AI server win from Tesla and expects Dell to raise its guidance in the April quarter.
The positive analyst coverage and raised price target from Morgan Stanley are likely to boost investor confidence in Dell Technologies. The emphasis on Dell's AI server and storage momentum, along with a significant AI server win from Tesla, suggests strong future performance. This is reflected in the immediate 9.24% increase in Dell's share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100