Dell Technologies price target lowered to $160 from $166 at Raymond James

Raymond James lowered the firm’s price target on Dell Technologies to $160 from $166 and keeps an Outperform rating on the shares. Following a fiscal Q2 “beat and raise,” the firm said strong AI shipments and improved ISG segment operating margin “should outweigh” flat AI backlog and a slightly lower PC forecast, adding that while the stock was indicated up about 3% in after-hours trading, it “would not be shocked by a greater appreciation in the near-term.”