Morgan Stanley Analyst Bullish on Dell Technologies, Raises Price Target by 18.8%

By Don Francis, Editor
May 16, 2024 8:00 AM UTC
Morgan Stanley Analyst Bullish on Dell Technologies, Raises Price Target by 18.8%

Morgan Stanley's Erik Woodring raised their price target on Dell Technologies (NYSE: DELL) by 18.8% from $128 to $152 on 2024/05/15. The analyst maintained their Strong Buy rating on the stock.

Woodring's price target hike was delivered ahead of the company's Q1 2025 earnings, scheduled for release on 2024/05/30. Dell Technologies is their firm's "top choice" for capitalizing on the growth of AI servers, increasing storage demand, and the rising PC market, the analyst told investors. The company's capital returns and inclusion in the S&P index provide additional benefits, Woodring continued.

Naming Dell a "Top Pick," the analyst updated their EPS estimates for FY 2025 and 2026 to $8 and $10.12, respectively, 18% above consensus.

Woodring's bullish sentiment aligns with a majority of top-rated analysts who currently rate DELL as a Strong Buy or Buy, with no analysts seeing it as a Hold. Only 11.1% either recommend or strongly recommend selling the stock.

The consensus forecast among analysts is that DELL's upcoming year will deliver earnings per share (EPS) of $5.97. If the analysts are right, DELL's next yearly EPS will be up by 33.8% on a year-over-year basis.

Investors have been rewarded for their confidence in Dell Technologies, as the stock price has surged since the last quarterly report on 2024/02/02. Since then, the stock price is up 72.8%. Year-over-year, the stock is up an impressive 232%. During that period, DELL has outperformed the S&P 500, which is up 28.3%.

Morgan Stanley analyst Erik Woodring is ranked by WallStreetZen in the top 16% out of 4,586 Wall Street analysts, with an average return of 6.8% and a 66.7% win rate. Woodring specializes in the Industrials and Technology sectors.

Dell Technologies Inc. is a global company that designs, develops, manufactures, markets, sells, and supports IT hardware, software, and services solutions. The company operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware.

The ISG segment provides traditional and next-generation storage solutions, as well as various server options. Networking products and services are also offered to help business customers transform and modernize their infrastructure. The CSG segment focuses on desktops, notebooks, workstations, displays, and projectors. Additionally, the segment offers software, peripherals, and deployment services. The VMware segment supports customers' IT priorities by enabling digital transformation and addressing cloud-based needs.

Dell Technologies Inc. also provides information security and cybersecurity solutions, cloud software and infrastructure-as-a-service solutions, and financial services. The company's commitment to innovation and customer-focused solutions has solidified its position in the technology industry.

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