Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2024 Financial Results

Go back to Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2024 Financial Results

Dell (DELL) PT Raised to $105 at TD Cowen

March 1, 2024 6:23 AM EST

TD Cowen analyst Krish Sankar raised the price target on Dell (NYSE: DELL) to $105.00 (from $75.00) while maintaining a Market Perform rating.

The analyst comments "Dell reported Jan '24 Rev/GM/EPS of $22.3B/ 24.5%/ $2.21, above consensus' view of $22.2B/ 23.6%/ $1.73, respectively. AI server backlog grew to $2.9B exiting F4Q24 and more importantly growth is starting to be felt in storage as well. FY25 sales were guided +5% Y/Y (above the LT CAGR), with AI accelerating ISG to up mid-teens%. Despite this solid execution, PC demand remains soft (CSG business expected to grow LSD% in FY25),... More