Bank of America: Significantly raises Dell Technologies' target price to $500, reiterates "Buy" rating
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The bank expects AI server growth to continue, with ISS showing strong performance in Agentic enterprise and CSP workloads, and an increase in the upselling of storage products. However, confidence in the growth of the PC business next year is the lowest. Overall, it is believed that there is an opportunity to approach $25 in fiscal year 2028. The bank has significantly raised its target price from $280 to $500 and reiterated a "Buy" rating, citing strong execution, enterprise AI adoption still in its early stages, and the increased added value of proprietary IP in the storage business.
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