BofA raised the firm’s price target on Dell Technologies (DELL) to $246 from $205 and keeps a Buy rating on the shares. The next phase of AI is agentic and the importance of agentic AI for Dell and HPE (HPE) is increasing demand for AI servers and storage, but especially their traditional server business, says the analyst, who is using higher multiples for both to reflect upside from increased demand for both AI servers and traditional compute.
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