Bank of America Raises Price Target for Dell Technologies Amid Strong AI Server Performance
Dell Technologies (DELL) reported significant growth in its artificial intelligence server business during the fiscal second quarter, with $60.9 billion in orders and a backlog that surged to nearly $95 billion from $51.3 billion just one quarter earlier. The strong performance prompted Bank of America analyst Wamsi Mohan to raise his price target for Dell’s stock to $600 per share from $505, maintaining a 'Buy' rating. Mohan highlighted that AI is driving demand across servers, storage, and PCs at Dell, positioning the company as more than just an AI hardware provider. The analyst also noted a broader opportunity in traditional server replacements and potential growth through agentic AI adoption. As part of its outlook update, Dell raised its fiscal 2027 AI server sales forecast to $74 billion from $60 billion and increased full-year revenue guidance by $25 billion.
