Dell shares surged to a new all-time high Friday as Wall Street analysts raised price targets ahead of the company’s fiscal first quarter 2027 earnings report, adding fuel to one of the strongest AI infrastructure trades of the year.
The stock jumped more than 16% to $294, leading the S&P 500 and extending its May rally to about 35%. Dell is now up roughly 125% year to date, driven by investor demand for companies tied to AI servers, data center infrastructure, and enterprise hardware spending.
Analysts moved quickly to reprice the stock before Dell reports results on May 28. Wells Fargo analyst Aaron Rakers raised his price target to $270 from $180 while maintaining an Overweight rating, citing stronger AI server revenue potential.
Rakers said Dell’s AI server revenue could reach $65 billion this fiscal year, above management’s $50 billion target.
Evercore ISI added Dell to its tactical outperform list, citing expectations for stronger earnings tied to AI infrastructure demand. The firm had also raised its Dell target to $270 from $240 earlier in the week, pointing to Dell’s position in enterprise AI infrastructure after the company highlighted new AI products and partnerships at Dell Technologies World.
