Hewlett Packard Enterprise rises as Barclays upgrades to 'overweight'

Juniper Networks

25/09/2024 12:37

** Shares of AI server maker Hewlett Packard Enterprise
 HPE.N  up ~2% at $19.31 premarket
    ** Barclays upgrades HPE to "overweight" from "equal
weight", citing persistent growth in its AI sever revenues and
improvement in storage
    ** HPE boasts a slightly higher gross margin on AI servers
than its peers, says Barclays 
    ** Brokerage raises stock's PT to $24 from $20, says HPE "is
the best way" to invest in an enterprise hardware recovery as
most other players have some AI-related premium
    ** Sees 13% accretion from takeover of networking gear maker
Juniper Networks  JNPR.N ; brokerage says combined with HPE
assets including Aruba Networks can lead to share gains
    ** Seven of 17 brokerages rate HPE stock "buy" or "higher"
and 10 "hold"; their median PT is $21 - LSEG data
    ** Up to previous close, HPE stock up nearly 11% YTD

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com;))