Dell Technologies price target raised to $70 from $60 at Evercore ISI

Evercore ISI analyst Amit Daryanani raised the firm’s price target on Dell Technologies to $70 from $60 and keeps an Outperform rating on the shares after the company reported “impressive upside” in the July-end quarter, with broad based strength across both its infrastructure and client segments. Dell “appears at the start” of AI tailwinds that should extend beyond GPU-enabled servers to potentially storage, the analyst tells investors in a post-earnings note. The catalysts at Dell – including a capital allocation update during their upcoming analyst day, AI centric revenue acceleration and potential S&P 500 inclusion – are “starting to add up in a notable manner,” the analyst added.