Dell stock pops on Morgan Stanley Buy rating

Dell (DELL) shares jumped to a record high on Wednesday after Morgan Stanley reiterated its Buy rating and raised its price target to $152.

The company has gained momentum as the artificial intelligence race heats up and the PC market improves.

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This post was written by Melanie Riehl

Video transcript

Speaking of A I play that brings us perfectly to our next trending ticker, which is Dell, not necessarily when you think of when you think A I and all the names we've talked about, but the stock is jumping to a record high.

Morgan Stanley reiterating its buy rating on the stock and raising the price target to $152 which I believe is the highest on the street.

In a note today saying that this stock is the best way to play the A I server momentum.

So that part of game here and Eric Woodring and his team over there talking about they've been doing channel checks here on those A I servers and they say that it shows Dell gaining momentum in enterprise infrastructure, which is interesting here.

And they also say that there's an improving PC market that should help the company.

They see a number of different tail winds.

So it is A I servers talks about PC market as a tailwind as well.

You know, this stock Julie has just enjoyed as we talk on the show.

It is a remarkable run.

It's something about 90% already.

This year.

It's about 220% over the past 12 months.

So, I mean, investors have been looking ways to play the A I thing besides NVIDIA, they have found it in de, in Dell.

Despite that run, by the way, Morgan Stanley still says valuation looks attractive.

Yeah, it's, and again, it's not one that I ne necessarily would have sprung to my mind, but obviously investors have been buying it.

So they've been playing on this.