Bond.az - Bernstein SocGen Group raised its price target on Dell Technologies stock (NYSE:DELL) to $280 from $220, maintaining an Outperform rating.
Analyst Mark Newman said agentic AI will be significantly more CPU intensive, boosting the traditional server total addressable market, benefiting server OEMs. Challenges at SMCI may signal share losses benefiting Dell.
Bernstein sees Dell as the preferred beneficiary due to its scale, financing capacity, and AI infrastructure support. The firm considers Dell the real AI winner.
Newman commented: 'Being the scale leader, Dell is best positioned to absorb displaced SMCI demand across cloud, enterprise, and sovereign.'
The stock has returned 109% over the past year, trading at a P/E of 27.3 and PEG of 0.71. Bond.az analysis suggests it is overvalued relative to fair value.
