Dell Price Target Raised to $160 as Enterprise Demand Fuels Optimism

Dell's stock (NYSE: DELL) is trading up 1.45% today,signaling a potential breakout above the $140 level. The upward momentum follows a bullish analyst note from Citi, which raised its price target on Dell to $160 from $135, reiterating a Buy rating ahead of the company's upcoming earnings report.

Citi analyst Asiya Merchant's upgrade is underpinned by observations of modestly better-than-expected enterprise hardware spending, excluding the print and consumer PC segments. This suggests robust demand for Dell's server and infrastructure solutions, which could be a key driver for the company's near-term performance. The stock has already demonstrated strong performance, rising approximately 7.2% week-over-week and 10.45% over the past month. Year-over-year, Dell shares are up a substantial 53.29%.

The raised price target from Citi aligns with a broader trend of analyst optimism surrounding Dell's position in the burgeoning AI server market. In May 2025, Dell reported a significant $14.4 billion backlog of AI server orders, with plans for substantial deployments in the current quarter. This backlog has spurred several analysts to revise their price targets upward, recognizing Dell's potential to capitalize on the growing demand for AI infrastructure. JPMorgan, for example, previously increased its target to $125, citing the robust AI server backlog and improved visibility into supply chain dynamics.

Dell's current trading level places it above both its 50-day and 200-day moving averages, reinforcing a bullish technical outlook.