Dell Shares Rise, Defying Stock Market Decline as Evercore Lifts Target Price to $500

$Dell Technologies (DELL.US)$ shares rose after Evercore analyst Amit Daryanani more than doubled his price target on the stock to $500.

Shares gained more than 3%, defying a wider stock market selloff that sent the $Nasdaq Composite Index (.IXIC.US)$ declining 0.3%, while the $S&P 500 Index (.SPX.US)$ slipped 0.5%.

The analyst maintained his buy rating on Dell and raised his price target from $240. The analyst has a success rate of 69.4% and a total average return of 36.3% over the past year.