Dell stock steadies premarket after Morgan Stanley cuts target and warns on 2026 hardware budgets
Dell shares rose 0.2% to $111.27 in premarket trading Wednesday, after falling 7.9% the previous day. Morgan Stanley cut its price target to $111 and kept an underweight rating, citing the slowest hardware budget growth in 15 years. The IT hardware sector index dropped 1.1% at Tuesday’s open. Dell also announced new education devices launching globally in February.