.September 17, 2024 at 3:49 PM

Hewlett Packard Enterprise Company (NYSE:HPE) saw a 4% increase in shares today after being upgraded by BofA Securities analysts from Neutral to Buy, with a new price target of $24.

The upgrade was based on potential cost reductions led by new CFO Marie Myers, expected benefits from a cyclical recovery in servers, storage, and networking, and the upcoming acquisition of Juniper for revenue growth and cost synergies.

Analysts also predict a rebound in margins for the High Performance Compute (HPC) segment and anticipate HP Enterprise to capitalize on the growing demand for AI solutions in enterprise and sovereign sectors.