Bank of America Raises Dell (DELL) Target, Eyes AI-Driven Growth Potential

Dell Technologies Inc. (NYSE:DELL) is one of the most undervalued cybersecurity stocks to buy now. On July 18, Bank of America maintained its Buy ratings on Dell Technologies Inc. (NYSE:DELL), while increasing its price target from $155 to $165. The stock is currently trading at $139.16, meaning BofA thinks there is an 18.5% upside for the stock. The firm expects IT hardware companies like Dell Technologies Inc. (NYSE:DELL) to benefit from the growth of enterprise/sovereign AI over the next decade.

Bank of America Raises Dell (DELL) Target, Eyes AI-Driven Growth Potential

A team of IT experts discussing the latest network security trends over a laptop screen.

In August, Macquarie Data Centres partnered with Dell to deliver AI infrastructure in Australia. The collaboration will see the Dell AI Factory with Nvidia hosted in the former’s upcoming IC3 Super West data centre, built to support high-performance AI workloads. This joint venture targets heavily regulated sectors like healthcare and finance, aligning with Australia’s national push for secure and sovereign AI capabilities.

In May, the company announced a battery of updates for its AI Factory offerings to help enterprises easily deploy, manage, and scale AI. The updates include new AI computers, energy-efficient data center inventions, and collaborations with tech giants like Meta and Nvidia. By taking care of the main obstacles to AI’s adoption, Dell is positioning itself as an important cog in AI-enabling.

Dell Technologies Inc. (NYSE:DELL) offers a comprehensive suite of end-to-end cybersecurity solutions to enterprises, including data protection, recovery capabilities, and threat detection.

While we acknowledge the potential of DELL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DELL and that has a 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.