Evercore ISI analyst Amit Daryanani raised the firm’s price target on Dell Technologies (DELL) to $180 from $160 and keeps an Outperform rating on the shares. The Iren (IREN) deal reflects Dell’s expansion with Tier-2 cloud providers beyond its existing core customer base of xAI and CoreWeave (CRWV). While the firm thinks Dell will continue to be in contention for new programs with the top hyperscalers, it believes the opportunity with Tier-2s and eventually with sovereigns reflect more margin rich opportunities.
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