Analyst Believes Talk Of A Private Equity Transaction Is Pushing Up Hewlett Packard Enterprise Co (HPE)

Analyst Richard Kugele of Needham & Company reiterated his Buy rating on Hewlett Packard Enterprise Co (NYSE:HPE) with a price target of $22, marking a 4.6% increase from current levels. He believes that discussions of a private equity transaction are keeping shares afloat. He believes that a more focused product line and a better cost structure has made HPE “more digestible.” He notes that HPE has its challenges with servers, storage, software and other business lines, but nonetheless he believes “it would not be out of the realm of possibility in [my] view for the cash flow to entice PE to take HPE off the market.”

According to TipRanks, Kugele has a success rate of 57% with an average return of 5.6% per recommendation.

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