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$69 is Morgan Stanley's new Overweight price target for Hewlett Packard Enterprise (NYSE: HPE), assigned August 13, 2026, after shares closed at a 52-week high of $58.79 on August 12 and then opened at $61.37, up 4.38%.
The upgrade arrives on the back of a 159.3% year-to-date gain and a 188.9% return over the past year, with the firm citing hardware demand from AI infrastructure spending.
The fundamental driver is a Q2 FY26 earnings acceleration that landed two months before the upgrade.
Q2 FY26: the inflection Revenue of $10.68 billion and non-GAAP EPS of $0.79, reported June 1, 2026, came in well above the company's own guidance of $0.51 to $0.55 on earnings.
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