Hewlett Packard Enterprise Company (NYSE:HPE) is one of the best hot stocks to buy for June.
On June 3, Argus reiterated a Buy rating on Hewlett Packard Enterprise Company (NYSE:HPE) and raised the price target to $70 from $30
The significant price target increase is in response to the company’s strong quarterly results, as the research firm remains optimistic about AI momentum. Ken Wolter / The company delivered an exceptional quarter, with record-breaking revenue, higher-than-expected profitability, and free cash flow growth. According to CEO Antonio Neri, the impressive results affirmed strong execution and healthy demand across the business.
Revenue in the quarter was up 40% year over year to $10.7 billion, as earnings per share increased by $0.41 to $0.79. Cash flow from operations increased by $1.9 billion to $1.4 billion as free cash flow increased by $1.8 billion to $0.9 billion. The impressive results came against the backdrop of AI integration into service offerings, including networking.