Deutsche Bank analyst Sherri Scribner weighed in today with an optimistic view on Hewlett-Packard Company (NYSE:HPQ), ahead of the company’s Securities Analyst Meeting tomorrow in the San Francisco Bay Area.

Scribner noted, “At the event, we expect mgmt to provide long-term growth and margin targets for each business. We continue to view the company’s upcoming split as a positive catalyst for the shares and remain positive on the stock given its low valuation and our view that the company’s enterprise business is an under-appreciated growth and margin expansions story.”

Furthermore, “While we are currently modeling revenue declines for the HP Inc. business, we expect mgmt to make the case that this business can grow over time based on careful market positioning, share gains, market consolidation, and new opportunities in areas like 3D printing. For Hewlett Packard Enterprise, we expect mgmt to provide more detail on the cost cuts needed in Enterprise Services and outline its opportunities and strong position in hardware. While we expect commentary to be upbeat, we anticipate that upcoming targets will be conservative, as we believe mgmt will want to be able to deliver on targets in order to provide further justification for the split.”

Scribner reiterated a Buy rating on Hewlett-Packard shares, with a price target of $45, which implies an upside of 65% from current levels.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Sherri Scribner has a total average return of 3.3% and a 51.6% success rate. Scribner has a -14.7% average return when recommending HPQ, and is ranked #1294 out of 3755 analysts.

Out of the 27 analysts polled by TipRanks, 14 rate Hewlett-Packard Company stock a Buy, while 13 rate the stock a Hold. With a return potential of 43.5%, the stock’s consensus target price stands at $39.20.

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