Dell Technologies price target raised to $155 from $125 at JPMorgan

JPMorgan raised the firm’s price target on Dell Technologies to $155 from $125 and keeps an Overweight rating on the shares. The firm says “it will be a tough bar” for Dell heading into the earnings print with the shares already trading at 19-times next 12 months estimates, which is more than twice the multiple the shares have historically traded at. However, the bull case for Dell shares adding up the opportunity around artificial intelligence servers, AI storage attach, and AI PCs should continue to provide a path for the shares to deliver upside over the medium-term, even as the near-term upside around the upcoming print might need the company to clear a high bar, the analyst tells investors in a research note.