Bernstein raised the firm’s price target on Dell Technologies to $90 from $80 and keeps an Outperform rating on the shares. Despite its significant run-up, the firm sees continued opportunity in Dell. Servers and PCs should both have a strong 2024, the stock is an S&P 500 candidate, and it remains inexpensive at about 9-times P/free cash flow, despite a track record of sustained share gains and operational strength, Bernstein adds.
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