HP Enterprise price target raised to $18 from $16 at Loop Capital

Loop Capital raised the firm’s price target on HP Enterprise to $18 from $16 and keeps a Hold rating on the shares after the company’s Q3 earnigns beat last week. The firm remains bullish on the stock given the opportunity with the company’s GPU allocation while also citing its gen- AI-as-a-service looking increasingly attractive and the synergies post Juniper acquisition, the analyst tells investors in a research note. Loop acknowledges the concern around pressured margins driven by the increase in gen- AI server mix but also notes that improving Networking and the eventual closing of Juniper will address this, the firm added.