Financial Analysts Expecting Higher Price

Citigroup, which initiated coverage of Dell last week with a “buy” rating, isn’t the only one expecting the company’s stock to climb this year. RBC Capital also started covering DELL with an “outperform” rating and a price target of $56 per share, citing the company’s “attractive enterprise portfolio” and valuation in a recent note. The global investment bank expects Dell to move higher on margin expansion and sales growth, saying the stock could trade at upwards of $80 per share in the coming years.

On Tuesday, Raymond James gave Dell a ‘outperform’ rating, citing the company’s market share gains and enterprise IT spending trends as reasons to be bullish about Dell. Zacks Investment Research recently gave the DELL stock a Zacks Rank of No. 1 which means a strong buy. JPMorgan issued a $60 price target for DELL stock, while Morgan Stanley analyst Katy Huberty also expects Dell’s stock price to increase thanks to the company’s storage momentum.