HPE: share soars, boosted by broker upgrade
(CercleFinance.com) - Hewlett Packard Enterprise shares surged on Tuesday (+5.
6% at $18.2), buoyed by an upgrade from analysts at Bank of America.
The stock was buoyed by BofA's upgrade to 'buy' (from 'neutral'), with a target price of $24.
In a note, the investment bank anticipates 'numerous future catalysts' for the stock, including improved margins against a backdrop of falling costs, a turnaround in supercomputers and synergies from the merger with Juniper Networks.
It also believes that AI could be a growth driver for demand in the long term, while highlighting the group's solid positioning in liquid cooling distribution units.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
6% at $18.2), buoyed by an upgrade from analysts at Bank of America.
The stock was buoyed by BofA's upgrade to 'buy' (from 'neutral'), with a target price of $24.
In a note, the investment bank anticipates 'numerous future catalysts' for the stock, including improved margins against a backdrop of falling costs, a turnaround in supercomputers and synergies from the merger with Juniper Networks.
It also believes that AI could be a growth driver for demand in the long term, while highlighting the group's solid positioning in liquid cooling distribution units.
Copyright (c) 2024 CercleFinance.com. All rights reserved.