Loop Capital starts Dell Technologies at Buy, says company has an opportunity to alter the narrative

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Loop Capital analysts initiated Dell Technologies (NYSE:DELL) with a Buy rating and $125 price target in a research note on Wednesday.

The firm told investors they believe not only is there material upside to Street estimates through CY2026 / FY2027, but also that DELL has an opportunity to alter the narrative around the stock such that a material valuation re-rating can occur.

“We believe that DELL is at the very front end of at least two material catalysts that provide structural upside to Street EPS: 1. Gen AI Servers and 2. A PC refresh cycle that can be amplified ASP-wise by Gen AI configured PCs,” they wrote.

“We also believe that DELL could increase its share of overall F1000 IT $ wallet as a result of key trends for which it’s well positioned,” they added.

Dell shares are up 2.5% Wednesday at the time of writing. The stock is trading around the $93.92 per share mark.