Morgan Stanley Lowers Dell Technologies (DELL) PT To $111 Citing Slowest Hardware Budget Growth in 15 Years

Core Viewpoint - Dell Technologies Inc. is identified as a stock that has the potential to double by 2030, despite recent price target adjustments by analysts due to slow hardware budget growth [1]. Group 1: Analyst Ratings and Price Targets - Morgan Stanley analyst Erik Woodring lowered the price target for Dell Technologies to $111 from $113 while maintaining an Underweight rating, citing the slowest hardware budget growth in 15 years [1]. - Citi analyst Asiya Merchant decreased the price target for Dell Technologies to $165 from $175 while keeping a Buy rating, indicating robust hyperscaler data center investment that supports demand for various technology hardware [5]. Group 2: Market Conditions and Sector Outlook - The slow growth in hardware budgets has led Morgan Stanley to adopt a more defensive stance, downgrading its overall sector view to Cautious due to cautionary factors and anticipated demand elasticity from inflation [2]. - Despite the challenges, Citi believes that the demand for power, storage, connectors, and fiber remains strong due to ongoing investments in hyperscaler data centers [5]. Group 3: Company Overview - Dell Technologies designs, develops, manufactures, markets, sells, and supports a wide range of integrated solutions, products, and services globally, operating through two main segments: Infrastructure Solutions Group and Client Solutions Group [6].