Dell Technologies price target lowered to $128 from $154 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Dell Technologies (DELL) to $128 from $154 and keeps an Overweight rating on the shares. The firm is reducing estimates ahead of earnings with a more conservative outlook on AI servers given supply chain bottlenecks, though it adds that traditional hardware spending is improving. The firm, which expects FY26 EPS guidance below consensus, argues that this is “typical and anticipated” and would be buyers on any weakness as it anticipates a second half recovery, the analyst tells investors in a preview.