Dell Technologies price target lowered to $142 from $155 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Dell Technologies to $142 from $155 and keeps an Overweight rating on the shares. The firm’s intra-quarter customer, industry and supply chain checks point to sustained topline momentum at Dell, including strong AI server builds, an uptick in storage demand, and improving PC pricing, which the firm believes is likely to translate to July quarter and FY25 revenue and EPS upside, the analyst tells investors in a preview note. The analyst adds that it is “time to ignore the noise and refocus on fundamentals, which we believe continue to point to upside.”