Dell Technologies Inc. (NYSE: DELL) is a multinational technology company known for its personal computers, servers, and data storage solutions. The company operates in a competitive market, facing rivals in both the traditional enterprise space and the rapidly growing artificial intelligence (AI) sector. Its performance is often watched closely by Wall Street analysts.
Following strong business performance, Wells Fargo upgraded its rating on Dell to Overweight. This rating suggests the analyst believes the company's stock will perform better than the average stock in its sector. At the time of this upgrade, the stock price for Dell was $446.04 per share.
The positive analyst sentiment comes after Dell announced impressive first-quarter fiscal 2027 results. The company reported an 88% year-over-year increase in revenue and a 214% jump in adjusted earnings per share. This growth was largely driven by a massive demand for the company’s AI servers.
Fueling these results was a 757% increase in server sales powered by AI chips. Dell booked $24.40 billion in new AI server orders during the quarter, contributing to a total order backlog valued at $51.30 billion. In response, Dell raised its full-year revenue guidance to between $165.00 billion and $169.00 billion.
Other analysts share this positive view, as highlighted by Finbold. Bernstein raised its twelve-month price target from $280 to $500. Morgan Stanley also upgraded the firm, increasing its target from $170 to $448, citing Dell's competitive edge in managing the semiconductor supply chain for AI.
