Dell Technologies price target lowered to $130 from $185 at Loop Capital

Loop Capital analyst Ananda Baruah lowered the firm’s price target on Dell Technologies (DELL) to $130 from $185 and keeps a Buy rating on the shares after its Q4 results. The company’s 7% revenue growth was driven by its Infrastructure Solutions Group segment, which rose 22%, and AI remains the key driver, with $2.1B in AI server shipments, $1.7B in AI orders, and a $9B AI backlog, the analyst tells investors in a research note. Loop adds however that while the “catalysts are coming”, Dell’s revenue projections are feeling the “wait” in anticipated PC refresh cycle.