Dell Technologies Inc.(DELL) received a bullish nod from two major Wall Street firms on Wednesday, following its securities analyst meeting that left analysts optimistic about the company's long-term potential.

The tech giant doubled its growth estimates for sales and profit over the next two years, boosted by strong demand for artificial intelligence. The company anticipates revenue to grow at a target rate of 7% to 9%, up from its previous projections of 3% to 4%. It expects earnings per share (EPS) to grow at a rate of 15% or higher, up from previous projections of 8% or higher.

JPMorgan revised its outlook on Dell, lifting its price target from $145 to $165 and maintaining an 'Overweight' rating, according to TheFly. The firm stated that Dell's performance metrics, revealed during the event, not only met but also surpassed internal expectations. 

Dell Technologies' stock inched 0.7% higher in Wednesday's premarket. On Stocktwits, retail sentiment around the stock improved to 'extremely bullish' from 'bullish' territory the previous day. Message volume shifted to 'extremely high' from 'high' levels in 24 hours. 

The stock saw an 858% increase in user message count in 24 hours, according to platform data. 

Citi also boosted the price target to $175  from $160 while reaffirming a 'Buy' rating. Analyst Asiya Merchant described Dell's forward guidance on market share and earnings growth as“constructive,” expressing increased confidence in the company's strategy to seize emerging opportunities.

While JPMorgan labeled the company's margin trajectory as still needing validation, the stronger-than-anticipated projections signaled a positive direction. Citi, on the other hand, noted that Dell is well-positioned to benefit from ongoing technological shifts and enterprise demand.

Dell Technologies' stock has gained over 30% year-to-date and over 23% in the last 12 months. 

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