Reported 21 days ago
Analysts at Bank of America have upgraded Hewlett-Packard Enterprise Co (HPE) to a Buy rating, raising the price target to $24, from $21, which spurred a 4% increase in share prices. This decision reflects a positive forecast for HPE amid potential cost cuts, a cyclical market recovery, and anticipated revenue synergies from its upcoming $14 billion acquisition of Juniper Networks. Despite market challenges, BofA expects significant cost synergies exceeding $450 million from the deal, boosting HPE's earnings prospects, particularly through collaborations with NVIDIA and advancements in AI technology.
Source: YAHOO