Goldman Sachs Raises Price Target for Dell Stock by $60
Goldman Sachs analyst Katherine Murphy raised her price target on Dell Technologies (DELL) to $570 from $510, maintaining a 'Buy' rating. This follows strong financial results in Dell's fiscal second quarter, which saw revenue jump 58% year-over-year to $47 billion and earnings per share soar by 203%. The Infrastructure Solutions Group was the primary growth driver, with AI server orders reaching an all-time high of $60.9 billion for the quarter. Murphy cited factors such as enterprise IT hardware demand due to data center modernization, growing adoption of agentic AI in enterprises, and improved profitability from a better mix of higher-margin storage products. Dell's management highlighted that over 1 million aging assets remain in corporate data centers, indicating continued growth potential. Analysts project revenue could rise from $113.5 billion in fiscal 2026 to $277 billion by fiscal 2030.
Topics: AI Infrastructure Dell Goldman Sachs Stock Price Target