On August 31, Dell Technologies Inc. rose 3.31% in regular trading, trading at $467.3/share, with turnover of $154 million. The rally came as Loop Capital raised its target price on Dell from $550 to $600, maintaining a Buy rating, adding to a wave of bullish institutional upgrades ahead of the company's quarterly earnings release scheduled for September 1.

Loop Capital's move follows a string of recent target price increases from major Wall Street firms. JPMorgan raised its target to $565 from $550, Wells Fargo lifted to $545 from $505 with an Overweight rating, Evercore ISI adjusted to $550 from $500 keeping an Outperform rating, and Melius Research set the street-high target at $650. FactSet consensus shows an average rating of Overweight with a mean target price of approximately $518.71.

The market consensus expects Dell to report quarterly revenue of approximately $44.88 billion, up 53.85% year-over-year, with adjusted EPS of about $4.89, up 112.23%. Morgan Stanley has cautioned that elevated buyside expectations and stretched valuations could create near-term earnings risk, following a 3% pullback on August 28 driven by profit-taking ahead of the report.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)