Dell gets PT raise from Melius Research as AI cloud provider spending grows

Dell Technologies

17/08/2026 14:54

** Melius Research raises PT on Dell Technologies DELL.N to $650 from $565, implying an upside of ~32% to the stock's last close
** Brokerage says it still sees a "big AI uptick coming by September" since Dell has a "great allocation" of AI servers that are equipped with Nvidia's  NVDA.O powerful Vera Rubin platform
** Says Dell's outlook for the rest of FY27 is "looking very conservative" given upside in servers and storage
** The recent strong results and capex increases at AI cloud providers means more spending with Dell, even if the companies were to diversify a bit - brokerage
** Adds some of the price hikes it is detecting for high-end laptops are so significant that Dell's revenue could grow even in the face of unit declines
** 20 of 28 brokerages rate the stock "buy" or higher, eight "hold" and their median PT is $500 - data compiled by LSEG
** DELL down 2.6% at $477.69 in morning trading
** Up to last close, the stock nearly quadrupled this year 

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))