Dell Stock Climbs After UBS Raises Target
Dell Technologies Inc (NYSE:DELL) shares are trading higher on Wednesday after UBS raised its price target on the stock to $455 from $440, adding to a string of recent analyst target increases. Here’s what you need to know.
- Dell Technologies stock is showing upward movement. Why are DELL shares climbing?
UBS Raises its Target, Joining a Wave of Price Target Increases
UBS analyst David Vogt kept his Neutral rating in place on Dell, but nudged his price target up to $455 from $440. He wasn’t alone this month: Morgan Stanley stuck with its Equal-Weight rating while pushing its target to $434 on Aug. 24, and Evercore ISI held firm on its Outperform call while raising its own target to $550 on Aug. 19.
Zoom out to the full analyst pool and Dell carries a Buy consensus, with 44 analysts averaging a price target near $491, though individual calls swing wildly, from as low as $280 to as high as $700. That kind of spread points to real disagreement under the surface: some analysts think Dell still has plenty of room to climb, others worry the stock has gotten ahead of itself on valuation.
Dell’s Chart Shows a Strong Trend Stretched Far From its Baselines
Zoom in on the chart and Dell still looks like it’s in a genuine uptrend, holding above its 20-day average of $451.90, its 50-day average of $431.01, its 100-day average of $349.71 and its 200-day average of $241.52. What stands out is just how far above those longer-term lines the stock has climbed, nearly 32% above the 100-day mark and over 90% above the 200-day mark, a gap wide enough that any stumble in momentum could translate into a sharp pullback.
That said, nothing in the momentum data points to a stock running too hot. The relative strength index reads 54.21, right in neutral territory, even though shares have rocketed 252% higher over the last year. Put differently, Dell has delivered one of the market’s best 12-month runs without the price action currently behaving like a blow-off top, the kind of backdrop that tends to invite a pause rather than a sharp reversal.
The trend also got a technical boost back in March, when a golden cross formed as the 50-day average climbed back above the 200-day, undoing a death cross from January and adding weight to the stock’s turnaround story.
DELL Shares Are Trending Higher
DELL Price Action: Dell shares were up 2.95% at $464.81 at the time of publication on Wednesday, according to Benzinga Pro.
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