.August 15, 2024 10:13 AM

JPMorgan analysts raised Dell Technologies’ price target to $160 from $155, maintaining an Overweight rating. Despite recent underperformance, Dell shows promise in the AI server market. Dell shares have dropped 39% since May 30, driven by concerns over competition and margins. Analysts believe Dell is well-positioned for growth, with a massive revenue opportunity in the AI server market and potential margin improvements. Dell could benefit from a rebound in traditional infrastructure and the enterprise storage market. Analysts project Dell could reach an earnings power of $11 per share by fiscal year 2027, with $8 from traditional infrastructure and $3 from AI server growth.