In a report released yesterday, Wamsi Mohan from Bank of America Securities reiterated a Buy rating on Dell Technologies, with a price target of $167.00.
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Wamsi Mohan has given his Buy rating due to a combination of factors including Dell Technologies’ strategic leadership and financial outlook. Despite the sudden transition of CFO Yvonne McGill, who will remain in an advisory role to ensure a smooth changeover, Dell’s strong leadership team led by Michael Dell and Jeff Clarke is expected to maintain its strategic focus on cash flow and shareholder returns. The appointment of David Kennedy as interim CFO, who has extensive experience within Dell, further supports the stability of the company’s financial operations.
Additionally, Dell has reaffirmed its guidance for the fiscal year, projecting significant growth in various segments such as AI server shipments and operating income. The upcoming Securities Analyst Meeting is anticipated to reveal long-term guidance with expectations of faster revenue and EPS growth. With a price objective set at $167, Mohan’s confidence in Dell’s ability to execute its strategy and deliver shareholder value underscores the Buy rating.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $160.00 price target.