On January 13, Goldman Sachs analyst Katherine Murphy changed her rating on Hewlett-Packard Enterprise Company (NYSE: HPE) to Buy from Neutral, setting a price target of $31.
The firm's coverage followed HPE's acquisition of Juniper in July 2025. Goldman Sachs stated that this acquisition has "meaningfully shifted its business mix towards the higher-margin, faster-growing Networking segment."
Despite this, the firm noted concerns about HPE's legacy IT hardware business, limited participation in AI infrastructure, and integration risks from the Juniper deal. It pointed out that HPE's current multiple remains discounted compared to peers.
Overall, Goldman Sachs described HPE as a "show-me story in 2026." The merger with Juniper reinforces HPE's position as the second-largest player in the enterprise and campus networking market, expanding its reach in data center networking.
Hewlett Packard Enterprise Company, an American multinational technology firm, provides high-performance computing systems, AI software, and data storage solutions for complex AI workloads.