BofA lowered the firm’s price target on Dell Technologies (DELL) to $150 from $155 and keeps a Buy rating on the shares ahead of the Q4 report on February 27. The firm believes the discussion will be focused on the company’s artificial intelligence server backlog as well as Blackwell delays. While Dell’s near-term setup could be challenged on AI server revenue and margins, this will be transitory, the analyst tells investors in a research note. BofA believes that as Dell begins to deliver on the demand for AI servers and customers shift to more enterprise, its revenue and margins should shift higher overtime.
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