In late September, we said, “Keep an eye on Dell (SYM: DELL). Just yesterday, it broke from consolidation to the upside and could potentially refill its bearish gap at around $135 near term. Helping, analysts at Deutsche Bank just resumed its coverage of the tech stock with a buy rating and a $144 price target.”
At the time, it traded at about $118.
Today, Dell is up to $129.40 and could rally even higher.
All after its competitor, Super Micro Computer, flopped on news its auditor resigned. After all, challenges for Super Micro could easily create opportunity for Dell. Even better, analysts at JPMorgan just put Dell on its Positive Catalyst Watch ahead of third quarter earnings. Also, not too long ago, analysts at Deutsche Bank say there’s more upside for Dell. The firm now has a buy rating and a price target of $144 on the stock.
“We expect top-line growth to accelerate into the double-digits over the next several quarters, as DELL benefits from a confluence of tailwinds across key segments, where it is a share leader (servers, storage and commercial PCs),” Deutsche Bank added, as quoted by Seeking Alpha.
“We believe DELL is well positioned to capitalize on the next legs of AI growth/proliferation across enterprises, given its product scale, breadth of services/solutions and go to market footprint.”
