Dell Technologies price target raised to $100 from $90 at JPMorgan

JPMorgan raised the firm’s price target on Dell Technologies to $100 from $90 and keeps an Overweight rating on the shares. The shares are up 6% year-to-date with investor enthusiasm for the artificial intelligence led compute investment cycle continuing to remain robust, the analyst tells investors in a research note. The firm says the AI led investment cycle tailwinds “stands in broad contrast” to the backdrop of muted enterprise spending. It believes Dell’s multiple is sustainable on account of the AI infrastructure investment cycle as well as the PC replacement cycle that the company stands positioned to benefit from.