BofA raised the firm’s price target on Dell Technologies to $70 from $60 and keeps a Buy rating on the shares following what the firm describes as a “large beat with outperformance across the business” in fiscal Q2. Management noted the potential for AI to be net additive both in ISG and at the edge, says the firm, which is raising its FY24 revenue and EPS estimates and also using a higher multiple to reflect the better growth opportunity associated with AI.
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