Evercore ISI Lifts Dell Technologies Inc. (DELL) Price Target Following $5.8 Order Deal

Dell Technologies Inc. (NYSE:DELL) is one of the best blue-chip stocks to buy now. On November 3, analysts at Evercore ISI reiterated an “Outperform” rating on Dell Technologies Inc. (NYSE:DELL) and raised the price target to $180 from $160. The price target hike comes as the research firm expects the company to benefit from a significant order of ancillary equipment.

With IREN inking a 5-year contract worth $9.7 billion with Microsoft for the supply of GB300 GPUs, Dell is poised to attract a $5.8 billion order for ancillary equipment. IREN purchases high-performance AI infrastructure hardware from Dell for its cloud services, which support clients such as Microsoft.

The IREN deal is poised to strengthen Dell’s Tier 2 customer base, which currently includes CoreWeave and xAI. The IREN program is also expected to account for about 25% of Dell’s total AI revenue. As part of the IREN Microsoft deal, Dell is to handle the complete delivery and integration of systems for its customers. Evercore ISI expects the company to capitalize on the expansion of its Tier 2 customer base.

Dell Technologies announced on October 21, that it has advanced its AI Data Platform to help enterprises unlock faster and more reliable insights by breaking down data silos. The platform, part of the Dell AI Factory and integrated with NVIDIA’s reference design, combines storage engines, data engines, cyber resiliency, and management services to support demanding AI workloads. Dell PowerScale and ObjectScale deliver enhanced scalability and performance, with PowerScale offering simplified NAS access and GPU-scale efficiency, while ObjectScale provides high-speed, S3‑native object storage with new software-defined options and deeper AWS integration.

Dell Technologies Inc. (NYSE:DELL) designs, develops, sells, and supports a wide range of computers and IT solutions. Its product line includes laptops, desktops, and monitors, as well as advanced infrastructure solutions such as servers, data storage, and artificial intelligence for businesses.

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Disclosure: None. This article is originally published at Insider Monkey.