Dell Technologies price target raised to $87 from $70 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Dell Technologies to $87 from $70 and keeps an Overweight rating on the shares, which it reiterates as “Top Pick.” Though the stock has seen “strong” year-to-date performance, the firm views Thursday’s analyst day as “a key catalyst that can unlock the next leg of outperformance,” the analyst tells investors in a preview note. Dell “remains the most compelling investment story in our hardware universe,” added the analyst, who sees accelerating capital returns driving 5% annual topline growth and a 13.5% total return CAGR through FY27. The firm notes that its forecasts are now 3%-8% above consensus for revenue and EPS in FY25 and FY26.