INDYFINANCE
2026-10-18 UTC
 
MARKET REPORTBULLISH

Dell Price Targets Climb as High as $735 on AI Server Demand

Four brokerages raised targets within hours of each other, citing margin strength and AI server growth.

AI & SemiconductorsDELL
Executive takeaway

Melius, Mizuho, Piper Sandler and Raymond James all raised Dell price targets, with Melius setting the highest at $735 on margin strength.

Newsroom graphic
Analyst Price Targets Split Between $600 and $735. Melius' $735 target is nearly $135 above Mizuho's more conservative $600 call, showing how much analysts still disagree on Dell's AI server margin upside even as they agree on direction.

Analyst Price Targets Split Between $600 and $735

Melius' $735 target is nearly $135 above Mizuho's more conservative $600 call, showing how much analysts still disagree on Dell's AI server margin upside even as they agree on direction.

Investing.com — All News wire items on Melius, Mizuho, and Raymond James Dell price target changes; Piper Sandler's specific target figure was not stated in its wire item.

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<figure><a href="https://www.indy.finance/news/dell-price-targets-climb-as-high-as-735-on-ai-server-demand"><img src="https://www.indy.finance/news/dell-price-targets-climb-as-high-as-735-on-ai-server-demand/graphic.svg" alt="Analyst Price Targets Split Between $600 and $735" width="1200" height="675"></a><figcaption>Analyst Price Targets Split Between $600 and $735 — <a href="https://www.indy.finance/news/dell-price-targets-climb-as-high-as-735-on-ai-server-demand">Indy Finance</a></figcaption></figure>
Four Wall Street firms raised their price targets on Dell in quick succession. Melius lifted its target to $735 citing margin strength, while Mizuho raised its target to $600 pointing to AI server growth. Piper Sandler and Raymond James also raised their targets, with Raymond James moving to $617 on AI demand strength. The clustering of upgrades suggests analysts see a consistent story: Dell's AI server business is improving profitability faster than expected, not just growing revenue. The spread between the targets, from $600 to $735, shows firms agree on the direction but disagree on how much upside the AI server cycle still has. What's unresolved is whether Dell's actual reported margins in coming quarters will validate the higher end of that range or come in closer to the more conservative Mizuho estimate.
What would change this view

If Dell's next quarterly report shows AI server margins flat or declining rather than expanding, the case for the $700-plus targets would weaken.

Wire sources cited

Produced automatically by the INDY NEWS Desk from the public wire sources cited above, and checked against them before publication. Market commentary, not investment advice.