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TD Cowen raises Dell price target to $550 from $500, keeps Hold rating; flags $95B AI backlog and memory constraints risk
What happened
TD Cowen analyst Krish Sankar raised Dell Technologies' price target to $550 from $500 while maintaining a 'Hold' rating, following a meeting with Dell's head of investor relations (reported via TheFly, Sep 29, 9:38 AM EDT). The firm said Dell's second-half AI server orders will be an important signal for how much upside remains in 2027 AI forecasts, pointed to Dell's record $95 billion AI server backlog as heavily leveraged to major neocloud customers, and sees a richer mix of AI CPU racks as positive for margins. TD Cowen also warned that memory constraints remain a risk for Dell in 2027.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- DELL (direct: analyst PT raise on the watchlist name; also reinforces the AI-infrastructure/memory-tightness narrative that touches Micron/MU, Sandisk, Intel, Marvell and memory-adjacent names in SOXX)