Barclays lowered Hewlett Packard Enterprise (HPE) to Equal Weight and cut its target to $77, as shares slid for a second session and fell 7.1% Thursday.
Barclays analyst Tim Long moved HPE from Overweight to Equal Weight and lowered the target from $83 to $77. HPE closed Wednesday at $63.11 after an 8.28% fall, then finished Thursday at $58.63, down 7.1%.
The bank pointed to valuation and unanswered questions about enterprise AI growth. Long wrote, “We see less upside as memory prices normalize.” Barclays maintained its financial projections and also made rating changes involving Dell and NetApp.
HPE's most recent earnings release covered the quarter ending July 31. Revenue reached $12.2 billion, 34% above a year earlier, while networking generated $2.9 billion, up 74.9%. HPE raised its fiscal 2026 revenue-growth outlook to 34% to 37%.
