On July 27, Hewlett Packard Enterprise rose 3.8% in pre-market trading, trading at $49.4 per share, with turnover of $1.2204 million.
On the news front, Citi recently raised its target price on Hewlett Packard Enterprise from $70 to $74, maintaining a Buy rating. The firm believes AI hardware suppliers have significant upside potential as artificial intelligence infrastructure demand remains robust. The analyst consensus average target price stands at $68.59 according to FactSet data.
Additionally, peer Super Micro Computer previously disclosed preliminary fourth fiscal quarter results showing gross margins surging to 15%-17%, roughly double prior targets of 8.2%-8.4%, with near-term orders exceeding $60 billion and backlog reaching a record high. This strong performance lifted the broader AI server sector, with Dell Technologies and Hewlett Packard Enterprise both rallying in sympathy. Hewlett Packard Enterprise has also been expanding its AI portfolio through partnerships with Nvidia on AI factory solutions, its GreenLake hybrid cloud platform, and its selection for the US Department of Energy Genesis Mission AI research projects.
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