Dell (SYM: DELL) has become one of the most explosive stocks on the market.
As we noted on June 17, “After gapping from $180 to $132 on earnings, analysts are saying to buy the dip on Dell’s AI story.”
At the time of the note, Dell traded at around $140.
Today, Dell is up to $149.41 and could soon refill its gap at around $180.
Helping, Bank of America and Morgan Stanley are still bullish on the tech stock, as is Argus, which just raised its price target to $150 from $130 a share.
As noted by Bank of America, “We reiterate Buy given that we are still in the early stages of AI adoption with continued strong pipeline and momentum around AI servers, where we think DELL will be able to capture higher AI margins over time (increased mix of Enterprise vs. CSP, and increased attack of Storage, Services).”
Even better, Morgan Stanley reiterated its overweight rating on the stock, with a $155 price target. “Mgmt meetings reconfirm Dell’s competitive advantages, provide clarify on April Q pain points, and give us greater confidence in the path forward post-F1Q earnings; Reiterate Top Pick,” said the firm, as quoted by Seeking Alpha.
