Morgan Stanley increased its price target for Dell Technologies to $170 from $110. The firm maintained an Underweight rating despite expecting strong near-term results from AI server demand.
Analysts expressed caution regarding Dell's profitability during the second half of the year. The firm also noted the stock's high valuation compared to its industry peers.
Dell recently announced new AI-powered data center products at its Tech World event. The company unveiled the PowerStore Elite storage platform and eleven new PowerEdge servers. These systems are designed to improve performance and efficiency for modern and traditional workloads.