Citi raised the firm’s price target on Dell Technologies to $170 from $125 and keeps a Buy rating on the shares. The analyst remains bullish on hardware stocks, saying the firm’s checks suggest leading manufacturers remain well positioned for further share gains as artificial intelligence momentum gathers steam across enterprise cloud providers. Additionally, the increasing complexity of AI workloads is driving demand for flash-based storage offerings, the analyst tells investors in a research note. The firm sees Dell gaining share in the AI total addressable market.
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