New Buy Recommendation for This Technology Giant: Hewlett Packard Enterprise (HPE)
Jefferies analyst James Kisner reiterated a Buy rating on Hewlett Packard Enterprise (NYSE:HPE) today and set a price target of $25.50. The company’s shares closed last Friday at $18.49, close to its 52-week high of $19.85.
Kisner noted, “We hosted investor meetings in the Midwest with Jason Schmidt, Senior Manager, Investor Relations. We walked away with greater comfort around M&A risk, hopes of a dividend increase, and higher confidence in the outlook of the business ex-ES.”
In addition, HPE’s chief technology officer and head of Hewlett Packard Labs will be retiring at the end of this year and the company will be moved to the enterprise group led by antonio Neri.
According to TipRanks.com, Kisner is a 1-star analyst with an average return of -2.9% and a 45.7% success rate. Kisner covers the Technology sector, focusing on stocks such as Ceragon Networks, Juniper Networks, and Pure Storage Inc.
Currently, the analyst consensus on Hewlett Packard Enterprise is Moderate Buy and the average price target is $21, representing a 13.6% upside.
In a report issued on June 20, BMO Capital also reiterated a Buy rating on the stock with a $24 price target.
The company has a one year high of $19.85 and a one year low of $11.55. Currently, Hewlett Packard Enterprise has an average volume of 10.69M.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock.