Dell stock hit a record high after RBC initiated coverage with a $640 price target, citing strong AI server demand and a $95 billion backlog that bolsters the company's multi-year revenue outlook.
Dell shares jumped 11% to an all-time high after RBC initiated coverage with an Outperform rating and $640 price target, citing strong AI and infrastructure demand.
Dell Technologies shares surged 11% to an all-time high of $562 following an Outperform initiation by RBC Capital Markets with a $640 price target. The firm highlighted robust enterprise demand for AI infrastructure and a massive $95 billion server backlog as key drivers for sustained long-term growth.
RBC initiated coverage with an Outperform rating due to Dell's strong position in AI infrastructure, compute modernization, and storage expansion, which are expected to drive market share gains.