Shares of Dell Technologies (NYSE: DELL) have rocketed 157% over the last 12 months. The growing investment in artificial intelligence (AI) infrastructure is emerging as a growth catalyst for the company, and it's why UBS analyst David Vogt sees more upside within the next year.

The analyst maintained the firm's buy rating on the shares but raised the price target from $113 to $141, representing 20% upside over the current share price.

Dell posted a decline in revenue for fiscal 2024 ending in February, but one area that saw strong demand was Dell's AI-optimized servers, where orders in the fiscal fourth quarter increased nearly 40% over the previous quarter.

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Source Fool.com