Barclays upgraded DELL to "equal weight" from "underweight"
Dell Technologies Inc (NYSE:DELL) stock is up 3.9% to trade at $98.98 at last check, after Barclays upgraded it to "equal weight" from "underweight" and set its price target at $97. The analyst noted the company's artificial intelligence (AI) business outlook, but also acknowledged challenges in the personal computer (PC) and traditional server business.
The brokerage bunch is already optimistic on Dell Technologies stock, making this bull note even more impressive. In fact, 17 of the 21 firms in coverage call the equity a "buy" or better, while the 12-month consensus target price of $161.05 is a massive 65% premium to current levels
The 10-day moving average helped guide the stock lower since early July. The shares are bouncing off the $90 level, however, and are now on track for their fourth-straight daily gain as they look to add to a 27.6% year-to-date lead.
Short-term options traders lean bullish. This is per the security's Schaeffer's put/call open interest ratio (SOIR) of 0.39, which ranks higher than only 4% of readings from the last 12 months.