Barclays Upgrades Hewlett Packard Enterprise Outlook to Overweight

A recent report highlights Barclays' upgrade for Hewlett Packard Enterprise, indicating positive growth expectations. With analyst price targets suggesting a notable upside and revenue projections on the rise, investor sentiment appears bullish for HPE stocks.

Date: 26-09-2024

AI Rating: 7

According to the report, Barclays has upgraded Hewlett Packard Enterprise's (HPE) outlook from Equal-Weight to Overweight, suggesting a shift in investor sentiment towards the stock.

The average one-year price target for HPE is $21.25/share, which reflects a potential 7.04% upside from its latest closing price of $19.85/share. This anticipated price increase adds an optimistic perspective for investors looking to capitalize on HPE's potential stock appreciation.

Projected annual revenue for HPE is set at $29,855MM, marking an increase of 2.88%. This positive revenue growth can instill confidence among investors regarding the company’s financial health and ability to capitalize on market opportunities.

Furthermore, the report mentions an expected non-GAAP EPS of 2.19, providing additional evidence that HPE may perform well in terms of profitability.

Investor sentiment appears strong with 1,784 funds or institutions holding positions in HPE, representing an increase of 6.25% in the last quarter. The average portfolio weight dedicated to HPE has also increased by 14.94%, suggesting growing institutional interest. However, total shares owned by institutions did decrease slightly by 0.43%, which may raise some concerns.

The put/call ratio of 0.44 indicates a bullish outlook, suggesting that more investors are betting on the stock going up rather than down. This sentiment aligns with the broader positive outlook reflected in analyst upgrades.

In terms of shareholder activity, several large funds have increased their portfolio allocations in HPE, including Bank of America and Vanguard Total Stock Market Index Fund, while others like Dodge & Cox Stock Fund have decreased their holdings. This mixed activity signals differing perspectives among institutional investors but suggests that overall, there is a bullish trend among many major holders.

Stocks: HPE