Here’s Why Top Evercore Analyst Boosted Dell Stock Price Target to Street High

Dell Technologies (DELL) has risen 16% in the past month and 76% over the past year. The company is gaining from robust demand for its artificial intelligence (AI) servers. Top Evercore analyst Amit Daryanani raised his price target for DELL stock to a Street-high of $205 from $160 and reiterated a Buy rating. Daryanani discussed several catalysts driving Dell stock higher.

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Top Evercore Analyst Is Bullish on DELL Stock

Daryanani noted the recent jump in shares of Dell Technologies and Hewlett-Packard Enterprise (HPE). The 5-star analyst highlighted that several catalysts drove these stocks higher, including the following:

1. CPU Trade: Daryanani noted that growing investor opinion is that CPU-driven server demand may be more resilient than anticipated due to general enterprise server refresh and the need for CPUs in AI infrastructure to “orchestrate” workloads, manage data movement, and handle pre/post-processing tasks.
2. Potential Shift from SMCI: Following the recent news on the Department of Justice’s indictment of three individuals linked to Super Micro Computer (SMCI), investors are increasingly expecting Dell, and to some extent HPE, to benefit from a reallocation of Nvidia (NVDA) supply away from SMCI. Daryanani believes that while Dell is well-positioned to deliver its FY26 AI server target of $50 billion with existing allocations, any incremental share would result in an upside.
3. OEM vs. Memory Stocks: Earlier this week, shares of original equipment manufacturers like Dell, HPE, and HP (HPQ) fared better than DRAM and NAND stocks like Micron (MU) and SanDisk (SNDK) due to Google’s (GOOGL) TurboQuant compression method announcement, which could reduce memory requirements in AI workloads, and the expectation of a more favorable cost and supply backdrop for OEMs.

Overall, Daryanani is bullish on Dell stock and sees continued upside potential. He ranks no. 118 out of more than 12,100 analysts on TipRanks. Daryanani has a success rate of 62% with an average return per rating of 22.2% over a one-year period.

Is Dell a Good Stock to Buy Now?

Overall, Wall Street has a Strong Buy consensus rating on Dell Technologies stock based on 11 Buys, one Hold, and one Sell recommendation. The average DELL stock price target of $172.67 indicates shares are fully priced at current levels.