On July 31, Hewlett Packard Enterprise rose 3.92% in regular trading, trading at $49.305 per share, with turnover of $31.35 million.
On the news front, the storage sector extended its strong rebound from the prior session, with peers SanDisk up 7.06%, Western Digital up 7.49%, Seagate Technology up 6.95%, and Dell Technologies up 5.18%, signaling a notable recovery in industry sentiment. Additionally, Citi recently raised its target price on Hewlett Packard Enterprise from $70 to $74, maintaining a Buy rating, citing robust AI infrastructure demand and significant upside potential for AI hardware suppliers. The analyst consensus mean target stands at $68.59 with an average overweight rating.
The rebound follows a sharp selloff earlier in the week triggered by a Morgan Stanley report warning that the AI-driven memory cycle was nearing an inflection point, with contract prices expected to peak in Q4. Hewlett Packard Enterprise shares have gained approximately 98% year-to-date.
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