On August 11, Dell Technologies Inc. fell 3.09% in pre-market trading, trading at approximately $445.55/share, with turnover of $26.66 million.
On the news front, Morgan Stanley lowered its price target on Dell Technologies from $477 to $430 while maintaining an Equalweight rating. According to FactSet, analysts maintain an average Overweight rating on the stock with a mean price target of $505.67. The downgrade comes amid ongoing market concerns over the sustainability of AI server profit margins, with the stock having already dropped 4.12% intraday on August 7. Morgan Stanley's revised target reinforces cautious near-term earnings expectations.
Notably, on July 28, Dell had suffered its largest single-day decline since April of last year, falling over 13.5%. While Citi had previously raised its target to $515 in late July citing strong AI infrastructure demand, the Morgan Stanley downgrade suggests a divergence in analyst sentiment heading into the next earnings report scheduled for September 3.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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