Dell Technologies stock surged +15.0% in morning trading to reach $290.68, hitting a new 52-week high of $291.17 intraday, as a sweeping round of analyst price target increases ignited fresh buying interest ahead of the company’s first-quarter fiscal 2027 earnings report due on May 28.
Evercore ISI reiterated an Outperform rating and raised its price target, citing sustained AI infrastructure momentum and improving enterprise AI demand signals, while Bank of America also increased its price target and maintained a bullish rating. Wells Fargo analyst Aaron Rakers raised his firm’s price target to $270 from $180, maintaining an Overweight rating.
JPMorgan raised its price target to $280 from $205, keeping an Overweight rating, with Citigroup also lifting its target to $290 from $235, citing strong neocloud/sovereign AI demand and improving enterprise mix. Even the lone bearish voice on the Street contributed to the momentum: Morgan Stanley raised its price target to $170 from $110, though it maintained an Underweight rating.
Dell’s fiscal year 2026 AI orders totaled $64.1 billion with shipments of $25.2 billion, and the company exited with a $43 billion AI backlog, guiding toward approximately $50 billion in AI revenue for FY2027 — roughly 100% year-over-year growth.
With the stock now touching a new 52-week high of $291.17, the market appears to be pricing in a continuation of Dell's transformation into a dominant AI infrastructure provider.
