Dell Technologies (DELL) stock has received multiple analyst upgrades ahead of its financial results being released on Aug. 28.
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Analysts at both Evercore (EVR) and Mizuho Financial Group (MFG) raised their price targets on Dell Technologies stock, citing strong demand for the company’s artificial intelligence (AI) servers, which should continue to power its sales and profits.
Evercore raised its price target on DELL stock to $160 from $150 and reiterated a Buy-equivalent outperform rating on the shares. At the same time, Mizuho Financial Group also raised its price target on Dell Technologies’ shares to $160 from $150 and maintained a Buy rating on the stock.
Nvidia Chips
Analysts at both firms agree that Nvidia’s (NVDA) upcoming Rubin chip in 2026 is likely to provide a strong tailwind to Dell and its AI server business throughout next year and beyond. Dell makes the servers that run Nvidia’s powerful AI microchips and semiconductors.
Expectations are high for Dell’s upcoming print, especially as the company has underdelivered in recent quarters. Analysts and investors will be looking for Dell to report strong server sales as demand for AI chips and semiconductors explodes around the world. DELL stock is up 22% this year.
Is DELL Stock a Buy?
The stock of Dell Technologies has a consensus Strong Buy rating among 17 Wall Street analysts. That rating is based on 13 Buy and four Hold recommendations issued in the last three months. The average DELL price target of $143.19 implies 3.96% upside from current levels.
