HP Enterprise price target raised to $24 from $18 at Loop Capital

Loop Capital raised the firm’s price target on HP Enterprise (HPE) to $24 from $18 and keeps a Hold rating on the shares. The firm has missed the P/E multiple re-rating event from 8-times to 10-times, but if HPE’s Gen AI traction is durable, this will be closer to the beginning of stock appreciation rather than the end, the analyst tells investors in a research note. HP Enterprise has critical Gen AI capability like design, tuning and integration that is non-negotiable currently for OEM customers given the Server and Cluster complexity, Loop added.