Dell Technologies price target raised to $89 from $87 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Dell Technologies to $89 from $87 and keeps an Overweight rating on the shares, which are reiterated as the analyst’s Top Pick following the company’s analyst day. Following the event, the firm raised its estimates by 1%-4%, but thinks they “could still be conservative.” Morgan Stanley argues that Dell’s combination of “a still conservative, but more compelling” long-term outlook, its strongest capital return commitment in over a decade and an “underappreciated” AI opportunity sets up the stock as “a multi-year re-rating story.”