Dell Stock (DELL) Will Rise Further, Says Five-Star Analyst

FomoAnxiety · 2026-03-23T19:01:11+00:00

Bank of America has increased its price target for Dell Technologies to $172, citing strong demand for AI servers. Analyst Wamsi Mohan maintains a Buy rating, projecting significant revenue growth despite mixed PC demand and global supply constraints.

FomoAnxiety

2026-03-23 19:01:11

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Bank of America BAC +1.48% ▲ has raised its price target on Dell Technologies DELL +2.85% ▲ even though the shares are currently trading near an all-time high.

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Wamsi Mohan, a top five-star rated analyst, writes in a note to clients that Dell will continue to benefit from “very robust” demand for artificial intelligence (A.I.) servers during an Asia supply-chain review. Bank of America remains bullish on DELL stock, saying the company’s $50 billion fiscal 2027 A.I.-server revenue guide “could end up conservative.”

As a result, Mohan retains a Buy rating on DELL stock and raised its price target on the shares to $172 from $155. The new target is 5% above where the shares currently trade after a big rally this year. DELL stock has gained nearly 30% so far in 2026.

AI Demand Remains Strong

Bank of America now forecasts $15 billion of AI-server revenue for Dell in the current first quarter, up from previous guidance of $13 billion, and has lifted its full-year AI-server estimate to $60 billion from $50 billion.

The latest analysis from Mohan also highlights persistent global tightness in optical fiber supply, and says that personal computer (PC) demand remains mixed. However, those issues are likely to be dwarfed by continued strong demand for AI servers and related AI technologies, says Bank of America.

Is DELL Stock a Buy?

The stock of Dell Technologies has a consensus Strong Buy rating among 13 Wall Street analysts. That rating is based on 11 Buy, one Hold, and one Sell recommendations issued in the last three months. The average DELL price target of $168.92 implies 3.65% upside from current levels.

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