Hewlett Packard Enterprise () shares jumped Wednesday following an upgrade from Barclays on the information technology’s strength in the booming artificial intelligence (AI) sector.

Barclays raised its rating on HPE stock to “overweight” from “equal weight,” and boosted the price target to $24 from $20. Shares were up nearly 5% to $19.80 in afternoon trading.

Growing AI Server Sales

The analysts said they expect HPE will continue to grow its AI server sales, improve in storage, and benefit from its $14 billion purchase of Juniper Networks (JNPR) announced in January. They added that amid signs of an enterprise business recovery, HPE could be “one of the bes💃t ways to invest in this emerging trend.”

The upgrade from Barclays comes after Bank of America boosted its rating and p♓rice target for HPE last week, in part because of the company's AI strength. Bank of America s💧aid HPE could hold a “command position” in AI adoption because of its “decades of e𓂃xpertise in liquid cooling (CRAY systems) and increased adoption of supercomputing.” 

With Wednesday's gains, Hewlett Packard Enterprise shares are up close to 17% from the start of the year.