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Dell Shares Jump 10% After RBC Outperform Call and $640 Target

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Dell shares rose about 10% after RBC Capital Markets initiated coverage with an outperform rating and a $640 price target. The move followed Thursday’s $5 billion bond offering and disclosure that Silver Lake Partners sold nearly $25 million of shares. RBC cited $95 billion server backlog and $16.4 billion in AI server sales, alongside 26% storage revenue growth and a raised fiscal revenue forecast to $192 billion.

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