Dell Technologies price target raised to $75 from $65 at Wells Fargo

Wells Fargo raised the firm’s price target on Dell Technologies to $75 from $65 and keeps an Overweight rating on the shares. The post-earnings share rally is justified following the beat, upward fiscal 2024 guidance, significant capital return capacity, and artificial intelligence order comments, the analyst tells investors in a research note. The firm says that with tepid expectations on enterprise servers and storage demand dynamics, Dell’s comments on signs of stability and improving demand in small business and government should be considered incrementally positive.