Oppenheimer Maintains Positive Outlook on Hewlett Packard Enterprise Co (HPE)
Analyst Ittai Kidron of Oppenheimer provided his insights on Hewlett Packard Enterprise Co (NYSE:HPE) after the company’s recent results from its spin-off of its Enterprises Services segment and resulting merger with CSC. The analyst believes the financials of HPE’s remains business are strong and that the spin-off will only strengthen the company. The analyst believes HPE will have a net cash position of $7.2 billion, ongoing FGCG of around $3 billion, and a recurring profit profile. The analyst believes the transactions represent a compelling entry point for shares as HPE’s remaining business can swim on its own.
The analyst reiterates an Outperform rating on the company with and raises his price target to $25.
According to TipRanks, Ittai Kidron has a 48% success rate recommending stocks with an average loss of (2.6%) per recommendation.