Mizuho raises Dell (DELL) price target to $650 from $600, keeps Outperform; shares climb 3.8%
What happened
Mizuho raised its price target on Dell Technologies (DELL) from $600 to $650 while maintaining an Outperform rating, prompting a 3.8% climb in the stock to around $587 during trading this week after closing near $552 the prior session. The move extends a steady wave of bullish sell-side revisions following Dell's fiscal Q2 2027 blowout on September 1, when revenue surged 58% year over year to $47 billion and non-GAAP EPS jumped to $7.04, well ahead of estimates. Analysts have been re-rating the stock on the AI-server cycle: Melius raised its target to $735 (Buy) in September, JPMorgan to $635 (Overweight), Barclays to $603 (Overweight), and Goldman Sachs maintained Buy at $570, citing Dell's 4-6 week faster AI server delivery than peers. The consensus target now sits near $571.
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- DELL — direct beneficiary of the raised target and continued analyst momentum. Sector read-through: AI server/data-center ecosystem (NVDA, SMCI, AVGO, memory names MU/WDC/STX) and the broader AI-infrastructure trade, since Dell's order/backlog numbers are a leading indicator of hyperscaler and enterprise AI capex.