JPMorgan raised its price target for Hewlett Packard Enterprise (HPE) to $37 from $27. The firm maintains an Overweight rating on the stock. Analysts cited easing concerns regarding memory components in the IT hardware sector for the revision.
JPMorgan expressed a bullish outlook for HPE ahead of its upcoming earnings report. The firm suggests potential for upward revisions to current earnings estimates.
HPE also announced an expanded seven-year strategic collaboration with data security firm Cohesity. This alliance introduces new resell agreements and deeper technical integrations. The partnership aims to improve cyber resilience and simplify hybrid cloud operations for customers.