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Hewlett Packard Enterprise (HPE) saw its shares rise by more than 6% after Barclays upgraded the stock from “Equal-weight” to “Overweight.” Barclays highlighted HPE as a top investment choice amid a rebound in enterprise hardware demand.
Analysts at Barclays noted strong growth in HPE’s artificial intelligence server revenues, which surged by 167% in the most recent quarter. They also expect AI server revenue to continue growing by more than 30% in the next quarter. HPE’s storage business is also improving, with updates to its portfolio expected to boost future recurring revenue.
As of 10:25 a.m., HPE shares were trading 5.51% higher at $19.92, reflecting growing investor confidence in the company’s outlook.
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