(This is Tech Zone Daily Pro’s live coverage of Thursday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) An automaker and a tech company were in focus among Thursday’s analyst calls. Goldman Sachs raised its price target on General Motors after the stock’s best day since early 2021. Morgan Stanley also upgraded Hewlett Packard Enterprise, though it still sees a slightly decline for shares. Check out the latest calls and chatter below. 5:45 a.m. ET: Morgan Stanley upgrades Hewlett Packard Enterprise on promise of AI growth While Morgan Stanley thinks more “derisking” would be preferable for Hewlett Packard Enterprise , the company’s multiple isn’t like to compress further. The bank upgraded shares of the information technology company to equal weight from underweight. To be sure, it maintained its $16 per share price target, which implies more than 3% downside from Wednesday’s $16.52 close. “We would have liked more derisking of Intelligent Edge estimates heading into FY24, but given where we are in hardware cycle, and the longer term AI opportunity, we see little opportunity for further multiple compression,” analyst Meta Marshall said. HPE shares are up just 3.5% this year, lagging the broader market. — Brian Evans 5:45 a.m ET: Goldman raises GM price target Goldman Sachs analyst Mark Delaney increased his price target on General Motors to $45 from $42 after a series of bullish moves by the auto giant. On Wednesday, GM announced a $10 billion share buyback, hiked its dividend and reinstated its full-year guidance. Shares rallied more than 9% for their best day since early 2021. Goldman’s new price target implies shares will rally another 42%. GM YTD mountain GM in 2023 “We believe investors will view the business update as an incremental positive overall given that the company expects that it can sustain the underlying core profitability of its business with cost reductions and efficiencies helping to offset labor cost and mix headwinds in 2024,” Delaney said. “Additionally, we believe the $10 bn ASR underscores the strong cash generation of the business and will be viewed positively by investors.” — Fred Imbert
