Argus raised the firm's price target on HPE to $70 from $30 and keeps a Buy rating on the shares. The company's Q2 results topped consensus revenue and non-GAAP EPS estimates for as sales also rose in double-digits annually while non-GAAP EPS increased at a triple-digit rate, the analyst tells investors in a research note. HPE is integrating AI into its diverse service offerings including networking, while the rise of agentic AI is also boosting its traditional server business, the firm added.
