On May 30, Bank of America has raised its price target on Dell Technologies Inc. (NYSE:DELL) to $155 from $150, maintaining a Buy rating following the company’s fiscal first-quarter results. While revenue surpassed Wall Street forecasts, earnings per share landed at the lower end of company guidance, impacted by modest tariffs and softness in the Infrastructure Solutions Group.
Despite the EPS miss, BofA remains optimistic about Dell’s long-term trajectory. The firm pointed to emerging strength in AI server demand as a major driver of future growth. In a post-earnings research note, the bank highlighted Dell’s opportunity to generate more than $30 billion in AI server revenue over the next two years, calling it a transformative development for the company’s earnings outlook.
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Customer Solutions Group margins faced pressure, but analysts suggest those headwinds are manageable given the broader shift toward enterprise AI infrastructure. Dell Technologies Inc.’s strong positioning in data center hardware could allow it to capture significant market share as businesses ramp up AI adoption.
The updated price target reflects what BofA describes as a “meaningful re-rating opportunity” as AI server momentum accelerates. Investors appear increasingly focused on Dell’s expanding role in next-generation computing, and analysts say the stock is poised to benefit from continued demand across both enterprise and hyperscale markets.
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