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Investing.com - Raymond James has raised its price target on Dell (NYSE:DELL) to $152.00 from $150.00 while maintaining an Outperform rating following the company’s fiscal second-quarter 2026 results. The technology giant, with a market capitalization of $90.7 billion and trailing twelve-month revenue of $101.5 billion, currently trades at a P/E ratio of 20.6x. According to InvestingPro analysis, Dell appears to be trading near its Fair Value.
Dell reported better-than-expected results for the quarter, though the company provided a mixed outlook that includes higher sales but lower earnings per share than market expectations for the fiscal third quarter of 2026.
The technology company has increased its artificial intelligence revenue target to $20 billion from its previous target of more than $15 billion, with AI driving sales growth despite diluting margins. Storage weakness also affected margins, according to Raymond James.
Raymond James expressed surprise at Dell’s approximately 5% after-hours stock decline following the earnings report, suggesting investors might need time to process the various components of the results and guidance.
The investment firm remains optimistic about Dell’s business trajectory while noting the company has set ambitious expectations for fiscal fourth-quarter earnings, with current guidance implying approximately 20% earnings growth from the third quarter.
In other recent news, Dell Technologies reported impressive earnings for the second quarter of fiscal year 2026, with revenue reaching a record $29.8 billion. This figure surpassed analyst expectations of $29.0 billion, while earnings per share also exceeded forecasts at $2.32 compared to the anticipated $2.29. The company’s strong performance was bolstered by significant growth in its Infrastructure Solutions Group and Client Solutions Group. Analysts have responded positively to these results, with Evercore ISI maintaining an Outperform rating and a $160 price target. Barclays increased its price target to $131, citing strong AI server revenues as a contributing factor. BofA Securities raised its target to $167, driven by expectations of long-term earnings growth supported by AI server expansion. UBS also adjusted its price target to $155, highlighting the momentum in AI server revenue that exceeded their projections. These developments reflect Dell’s robust performance and the positive outlook from various analyst firms.
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