{
  "id": 5515388,
  "title": "Why “Phenomenal” Results Still Only Get Dell a Hold Rating",
  "url": "https://urgent.news/2026/09/02/why-phenomenal-results-still-only-get-dell-a-hold-rating",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T20:32:53.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/why-phenomenal-results-still-only-203253238.html"
  },
  "original_language": "en",
  "account": "Dell Technologies reported strong fiscal second-quarter earnings, outpacing analyst expectations with record demand for artificial intelligence servers. Despite this impressive performance, one Wall Street firm, TD Cowen, maintained a Hold rating for Dell. On September 2, TD Cowen raised its price target on Dell shares to $500.00 from $450.00 while retaining a Hold rating. The firm credits Dell's robust quarter to demand for AI servers, which contributed $16.4 billion in revenue, and now projects a $74 billion AI server outlook for the year, a 200% year-over-year increase. Dell's AI server revenue was a key driver of the company's 58% year-over-year revenue growth to $46.97 billion and adjusted earnings per share of $7.04, surpassing expectations. TD Cowen cites component cost inflation as a potential risk for Dell, though operating efficiencies have mitigated this issue so far. The firm's valuation approach uses a 16x multiple on FY28 EPS, versus a 21x multiple previously, leading to its price target of $500.00. Despite the strong financial results, TD Cowen believes Dell's stock may not offer significant upside potential compared to other AI stocks.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}