As Dell Technologies Inc. (NYSE: DELL) has spiked by more than 230% so far in 2026, fueled by the Artificial Intelligence (AI) boom, Amit Daryanani, a Wall Street analyst at Evercore ISI, expects it to rally and reach a new all-time high over the next 12 months.

Daryanani reiterated a ‘Buy’ rating for Dell stock, according to a note sent to clients on August 19. He further raised the firm’s 12-month price target to $550 from $500, representing a 10% increment.

With DELL’s price hovering at approximately $431.07 on Wednesday, this analyst suggests a potential 27.59% upside. This ‘Outperform’ rating was based on Dell’s storage portfolio remaining underappreciated at current share levels; thus, Evercore ISI expects…