In a report released today, George Iwanyc from Oppenheimer maintained a Buy rating on Hewlett Packard Enterprise (HPE), with a price target of $18. The company’s shares closed yesterday at $14.27.
Iwanyc noted:
“This week, we hosted investor meetings with HPE’s CFO Tarek Robbiati. Overall, we view FY19 as a transitional year in which revenue headwinds (FX, fewer cloud server shipments, professional services exit) mask positive underlying product trends (HCI, Storage, Edge/WLAN) and operating margin improvement. We see the possibility for more M&A in addition to cost-cutting initiatives (Next 2.0), and believe near- term business trends remain largely unchanged despite macro concerns and the US government shutdown. We expect the shares to remain range-bound near term, until the headwinds wash out. Nonetheless, given the recurring nature of the company’s profit pool, we see little downside and believe investors should build positions ahead of an improving top line and margin story in 2H19/FY20. Maintain Outperform.”
According to TipRanks.com, Iwanyc is a 2-star analyst with an average return of 2.0% and a 41.2% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Ceragon Networks, Juniper Networks, and Pure Storage Inc.
Hewlett Packard Enterprise has an analyst consensus of Moderate Buy, with a price target consensus of $17.13.
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The company has a one-year high of $19.48 and a one-year low of $12.09. Currently, Hewlett Packard Enterprise has an average volume of 11.42M.
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Hewlett Packard Enterprise Co. engages in the provision of information technology, technology and enterprise products, solutions, and services. It operates through the following segments: Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments.
