Dell Technologies added to ‘Tactical Outperform’ list at Evercore ISI

Evercore ISI believes Dell is well positioned to report upside to consensus October-end quarter revenue and EPS estimates of $24.69B and $2.07, respectively, driven by strength in the ISG segment on the heels of storage, general-purpose compute, and AI server strength, though it expects weaker results in CSG segment to partially offset that strength. The firm, which thinks investors will be willing to overlook the PC shortfalls in FY25 if ISG margins continue to tick higher, Dell upsides AI server expectations, and management provides positive qualitative commentary around Blackwell ramps in FY26, believes the stock “should continue to grind higher” and it maintains an Outperform rating and $150 target on Dell shares, which have also been added to the firm’s “Tactical Outperform” list ahead of earnings.