Dell rises as analysts hike PT on strong growth forecasts
* Dell Technologies' DELL.N shares rise 8% to $162.67 as multiple analysts hike their price target after the company nearly doubled its annual profit growth target
** DELL is the biggest gainer on the benchmark S&P 500 .SPX. It is on course for highest close since May 2024 and biggest daily pct. gain since early April this year
** DELL, whose customers include Elon Musk's AI startup xAI and CoreWeave, on Tuesday lifted its expectations for annual growth in adjusted earnings per share to at least 15% from around 8%
** DELL also expects compounded annual revenue growth between 7% and 9% for the next four years, up from its prior view of 3% to 4%
** Multiple analysts including from JPMorgan, Barclays, Wells Fargo and Citigroup raised their PT on DELL following the report
** Among 25 analysts that cover DELL, avg. rating is "buy" and median PT is $154 - LSEG-compiled data
** DELL is up 40.7% YTD vs NASDAQ Composite Index's .IXIC 18.8% increase
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