Evercore ISI Group Maintains Outperform Rating for Dell Technologies with $160 PT

Evercore ISI Group Maintains Outperform Rating for Dell Technologies with $160 PT

Evercore ISI Group has maintained its Outperform rating on Dell Technologies Inc. (NASDAQ: DELL) while raising its price target to $160.00 from $150.00. This adjustment reflects the research firm's bullish outlook on the company's growth prospects and strategic positioning in the technology sector.

Dell Technologies, a leading manufacturer of PCs, reported strong financial performance in its recent quarter. The company's net sales showed a year-over-year increase of 5.1%, indicating resilience and growth in its operations. Despite a negative return on equity of 226.48%, the company's market capitalization remains stable at approximately $93.50 billion, reflecting investor confidence.

The price target increase comes amid a generally positive analyst consensus. MarketBeat calculates a consensus rating of "Moderate Buy" based on 20 analysts, with 4 holding ratings and 16 giving buy ratings for DELL. The average price target of $141.82 represents a forecasted upside of 1.79% from the current price of $139.33.

Evercore ISI anticipates that the upcoming period will be "data-filled" for Dell Technologies, which could lead to increased volatility. The research firm's bullish stance on the company's strategic optionality and potential for growth in the technology sector supports the Outperform rating and the higher price target.

References:
[1] https://www.marketscreener.com/news/evercore-isi-adjusts-price-target-on-dell-technologies-to-160-from-150-maintains-outperform-ratin-ce7c51dedd8ff422
[2] https://www.marketbeat.com/stocks/NYSE/DELL/forecast/