UBS raised the firm’s price target on Dell Technologies to $141 from $113 and keeps a Buy rating on the shares. The firm contends that global AI related servers should increase 48% and 21% in 2024 and 2025 respectively, directionally acting as a tailwind for Dell’s Infrastructure Solution Group / Server business despite sluggish legacy enterprise demand, the analyst tells investors in a research note. UBS adds however that it reduces its FY25 Client Solutions Group segment revenue forecast lower by 3.4% due to a slower PC recovery.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DELL:
- Dell Technologies call volume above normal and directionally bullish
- Dell Technologies exec sells $12.5M in common stock
- Super Micro Computer Stock (NASDAQ:SMCI): Massive Growth Makes It Undervalued
- Nvidia competition heats up as Intel, Google unveil new AI offerings
- Intel announces enterprise AI with Gaudi 3, AI open systems strategy