Movement Alert|Hewlett Packard Enterprise Rises 3.14% in Pre-Market Trading, Citi Raises Target Price to $92 Amid Sustained AI Order Momentum

Market Focus
Oct 02

On October 2, Hewlett Packard Enterprise rose 3.14% in pre-market trading, trading at approximately $66.61/share, with turnover of $5.07 million.

The move was primarily driven by Citi significantly raising its target price on Hewlett Packard Enterprise from $76 to $92, while reaffirming a \"Buy\" rating. UBS had also previously lifted its target from $59 to $66. The upgrades come on the heels of the company's recently announced $1.2 billion deal with private cloud infrastructure giant Vultr to deploy AMD Helios AI Rack systems at U.S. cloud data centers — the system's first commercial order. Morgan Stanley highlighted that Hewlett Packard Enterprise's AI systems backlog has reached approximately $7 billion, with strong order growth underpinning an optimistic fiscal year outlook. The company also raised its networking segment revenue growth guidance to the high-teens to low-20s percent range and announced plans to support NVIDIA BlueField-4 DPU across its full product lineup, further deepening its AI infrastructure positioning.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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