Wells Fargo Lowers PT on Dell Technologies Inc. (DELL), Still Implies 47% Upside

Core Viewpoint - Dell Technologies Inc. is recognized as one of the 12 cheap technology stocks to invest in according to hedge funds, with analysts maintaining a positive outlook despite recent price target adjustments [1][2]. Group 1: Analyst Ratings and Price Targets - Wells Fargo analyst Aaron Rakers lowered the price target on Dell from $200 to $180 while maintaining a Buy rating, indicating an upside potential of over 47% [1]. - Evercore ISI added Dell to its 'Tactical Outperform' list ahead of the Q4 FY2026 results, with analyst Amit Daryanani lowering the price target from $180 to $160 [2]. Group 2: Financial Performance and Growth Potential - Despite the price adjustments, Daryanani remains optimistic about Dell's strong near-term demand trends in traditional hardware and AI compute, expecting upside to revenue and earnings per share estimates of $31.4 billion and $3.52 respectively [3]. - Dell's ISG segment is experiencing significant growth, with a 24% increase in Q3 FY2026 and a robust AI server backlog, indicating a strong outlook for this segment [4]. Group 3: Market Position and Strategic Focus - Dell Technologies designs, develops, manufactures, and sells integrated solutions, products, and services globally, operating in two segments: Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG) [4].