JPMorgan Chase & Co. increased its price target for Dell Technologies (DELL) to $280. The previous price target for the hardware manufacturer was $205. The financial institution reaffirmed its overweight rating for the company.
Rising demand for AI servers and diminishing memory cost concerns boosted the IT hardware sector. Analysts expect Dell to increase its fiscal year 2027 earnings growth guidance to 27%. The previous growth estimate for that period stood at 25%. Analysts anticipate Dell's position in the AI server market will drive significant earnings growth.