UBS Lifts Dell Price Target to $155 on Strong AI Momentum

Dell Technologies Inc. (NYSE:DELL) is one of the Must-Watch AI Stocks on Wall Street. On August 29, UBS analyst David Vogt raised the price target on the stock to $155.00 (from $145.00) while maintaining a Buy rating.

In an investor note, the analysts said that Dell has reported a solid quarter but the shares will likely trade lower in the near-term due to mixed metrics. However, the firm is of the view that the company’s artificial intelligence order momentum remains strong enough to support the shares.

“Dell reported a solid qtr with revenue of $29.8B, 2% above our $29.1B est as AI Server rev of $8.2B drove the upside relative to our $7.0B est. As expected Dell’s CSG/PC business struggled, growing only ~1%, ~500 bps slower than HP while Storage declined ~3%, missing our est by ~6%, consistent with checks that indicated a muted backdrop, particularly in N. America.”

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“In addition, strong mix to AI server rev pressured GM to 18.7% vs our 19.2% est, offsetting a mix within Storage to more margin rich Dell IP. Therefore, the combo of slightly better revs and lower GMs drove EPS to $2.32 vs our $2.25 (guide of $2.25 +/- 10 cents). Looking forward, AI order commentary was bullish as Dell increased the FY26 AI rev tgt to $20B from > $15B, in-line with the investor bogey into earnings while traditional Dell end-mkts face discrete headwinds but should improve QoQ. That said, while the shares likely trade lower in the near-term given the mixed metrics, longer-term, AI order momentum remains strong enough to support the shares in our view.”

Dell Technologies Inc. (NYSE:DELL) provides IT solutions, including servers, storage, networking, and personal computing devices, to businesses and consumers worldwide.

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