On August 12, Dell Technologies Inc. rose 3.11% in pre-market trading, trading at $455.6 per share, with turnover of $19.11 million.
On the news front, Goldman Sachs raised its target price on Dell Technologies from $500 to $510, maintaining a Buy rating. According to FactSet, analysts have an average rating of overweight on Dell with a mean target price of $506.14. The upgrade comes just one day after Morgan Stanley cut its target price from $477 to $430, which triggered a decline of over 5% on August 11. Goldman Sachs' contrarian move has helped ease market pessimism regarding AI server profit margin sustainability.
Within the Technology Hardware, Storage & Peripherals sector, broad strength provided additional support. Super Micro Computer rose 9.86%, SanDisk gained 5.22%, Seagate Technology climbed 4.13%, and Western Digital advanced 4.04%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)