** PC maker Dell Technologies' DELL.N shares rise 5.3% to $310.74 premarket

** Melius Research raises PT to $380 from $245, implying a 28.7% upside to the stock's last close

** Brokerage says DELL could see stronger server sales as Nvidia's NVDA.O new AI racks drive demand, with enterprise AI picking up in the second half of the year

** Expects DELL to be the infrastructure partner for neoclouds such as CoreWeave CRWV.O and Nscale as agentic AI scales

** Average rating of 28 analysts is "buy;" their median PT is $176 - data compiled by LSEG

** Up to last close, stock has more than doubled YTD