Dell (DELL) Stock: Evercore Charts Path to $1,000 Price Target

Key Highlights

• Dell Technologies stock surged 4.3% to $556.85, marking a fresh 52-week peak at $558.50
• Michael Dell scheduled to present at Goldman Sachs Communacopia + Technology Conference today at 12:25 PM PDT
• Company delivered unprecedented Q2 results with $47.0 billion in revenue, reflecting 58% annual growth, plus a massive $95 billion AI order backlog
• Evercore upgraded price target to $650 while maintaining top pick status, projecting potential bull scenario reaching $1,000
• Silver Lake Partners divested approximately $38.2 million worth of Dell shares on September 3, yet stock momentum remains strong

Shares of Dell Technologies advanced 4.3% during Wednesday’s morning session, trading at $556.85 and establishing a new 52-week peak of $558.50. This upward movement arrives as CEO Michael Dell is scheduled to address attendees at the Goldman Sachs Communacopia + Technology Conference at 12:25 PM PDT this afternoon.

Dell Technologies Inc., DELL

Investors are keenly focused on Dell’s conference presentation, anticipating fresh insights regarding the company’s artificial intelligence infrastructure business, which has served as the primary catalyst behind the stock’s impressive performance throughout the year.

This conference appearance arrives on the heels of exceptional quarterly results announced September 1. The technology giant reported Q2 fiscal 2027 sales of $47.0 billion, representing a 58% year-over-year increase, featuring $16.4 billion in AI-specific revenue and $60.9 billion worth of AI-related orders throughout the three-month period.

Management is currently managing a substantial $95 billion AI order backlog, providing sufficient visibility to revise full-year projections upward to 69% revenue growth and a remarkable 148% increase in adjusted earnings per share to $25.50.

The strong quarterly performance sparked multiple analyst firms to increase their price objectives. Major institutions including Morgan Stanley, Goldman Sachs, and Citigroup all boosted their targets in response to the earnings announcement.

Wednesday morning brought additional bullish commentary from Evercore, which elevated its price objective to $650 from the previous $575 while maintaining DELL among its preferred investment ideas.

Evercore’s Bull Case Breakdown

Evercore analyst Amit Daryanani identified four key drivers supporting continued upside: accelerating neocloud infrastructure deployments, nascent enterprise artificial intelligence adoption trends, supply chain efficiencies enabling Dell to capture market share, and prudent capital management practices.

Daryanani believes consensus FY27 EPS forecasts hovering around $25.88 are conservative, with upside potential exceeding $30 in an optimistic scenario. His analysis projects FY28 earnings could surpass $40 compared to Wall Street’s current $31 estimate, which at a 25x earnings multiple could justify a share price approaching $1,000.

Notable Insider Activity

The bullish narrative faces some counterbalance from insider transactions. Silver Lake Partners IV offloaded roughly $38.2 million in Dell Class C Common Stock on September 3, 2026. Combined Silver Lake entity dispositions exceeded $160 million as shares approached 52-week highs.

Despite this selling activity, the stock continues demonstrating strength. DELL is significantly outperforming broader market indices today, with the S&P 500 declining 0.3%, the Dow Jones dropping 0.6%, and the Nasdaq retreating 0.4%.

Dell shares currently command a forward price-to-earnings ratio of approximately 19x. Additional Buy ratings emerged from analyst coverage released September 8 and 9, sustaining strong institutional interest ahead of this afternoon’s conference presentation.

The post Dell (DELL) Stock: Evercore Charts Path to $1,000 Price Target appeared first on Blockonomi.