Dell Technologies Stock Rallied On Wednesday: What Happened?

Zinger Key Points
  • BofA Securities analyst Wamsi Mohan maintains a Buy rating for Dell Technologies while raising the price target from $130 to $180.
  • Dell Technologies is set to release its fiscal first-quarter earnings after the market close on Thursday.

Dell Technologies DELL shares experienced an uptick in trading activity on Wednesday following an upward price target revision from BofA Securities.

What’s Going On: BofA Securities analyst Wamsi Mohan reaffirmed a Buy rating for Dell Technologies while lifting the price target from $130 to $180.

Over the past month, eight analysts have adjusted price targets on Dell. The average 12-month price target for Dell Technologies stands at $140.62. The high target sits at $185, while the low target is $94. Among analysts covering Dell, 14 hold positive ratings and two have negative ratings.

While the average stock market return is around 10% per year, Dell Technologies has already surged approximately 134% year-to-date. Dell’s recent outperformance sets it up for lofty expectations heading into earnings this week.

Dell Technologies is set to release its fiscal first-quarter earnings after the market close on Thursday. Analysts are looking for EPS of $1.26 and quarterly revenue of $21.667 billion, according to estimates from Benzinga Pro.

A conference call to discuss the quarterly results and provide insights into the company’s performance moving forward will take place at 4:30 p.m. ET on Thursday.

DELL Price Action: Dell Technologies shares closed Wednesday up 8% at $179.36, according to Benzinga Pro.

See Also: CrowdStrike To Rally Over 15%? Here Are 10 Top Analyst Forecasts For Wednesday

Image: Courtesy of Dell Technologies.

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