Morgan Stanley Revamps Its Dell Stock Price Target After Blowout Earnings. Dell Is Expanding Beyond the AI Boom.

Dell Technologies (DELL) is still looking like one of the cleaner ways to play the AI hardware boom, and the market is paying up for that story. On June 1, DELL stock jumped about 11% and reached a new high of $469.47 after Morgan Stanley raised its price target to $448 from $170, adding another layer to a rally already built on blowout earnings and a fast-rising AI server business.

Morgan Stanley’s upgrade matters because it came after Dell already delivered a massive quarter. Analysts moved the stock to an “Equal-Weight” rating from “Underweight” and said that Dell has handled supply-chain pressure and memory shortages better than rivals.