BofA Global Research released an analyst note on Monday, boosting its outlook for Dell Technologies Inc. (NYSE:DELL). BofA research analyst Wamsi Mohan reiterated a Buy rating. He raised the price target to $280 from $246.
• Dell Technologies stock is showing weakness. Why are DELL shares declining?
Expecting Strong First-Quarter Results
Dell reports its fiscal first-quarter earnings on May 28. Mohan expects a strong beat on revenue and earnings per share (EPS).
The analyst expects second-quarter guidance above street consensus. He forecasts second-quarter revenue between $37 billion and $40 billion. Mohan also projects second-quarter EPS between $2.85 and $3.
Unwavering AI Server Demand
Substantial demand for artificial intelligence servers drives the positive revisions. Mohan noted “steadfast demand from AI servers” in the first half of the year. He expects this momentum to continue through the second half.
BofA estimates first-quarter AI server revenue at $15 billion. …
This post was originally published here
