Oppenheimer analyst George Iwanyc maintained a Buy rating on Hewlett Packard Enterprise (NYSE: HPE) today and set a price target of $20. The company’s shares closed yesterday at $15.90.
Iwanyc said:
“We attended HPE’s investor session in Las Vegas. Overall, we believe that HPE is progressing nicely on growth (hybrid IT, intelligent edge) and cost (Next) initiatives, and announcements (intelligent edge investments, Aruba WAN, memory-driven computing architecture) add credibility to the company’s vision. Longer term, HPE outlined six industry transitions that amount to a $65B+ opportunity, and while they are still in the early innings, HPE’s positioning is favorable. We expect shares to remain relatively range-bound as HPE faces tough FY2H18 comps, but believe steady execution through this period should pave the way for further upside, with strong capital returns and a reasonable valuation providing a floor. Our estimates are unchanged. Maintain Outperform.”
According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 26.7% and a 75.0% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Ceragon Networks, NetApp, and Allot.
Hewlett Packard Enterprise has an analyst consensus of Hold, with a price target consensus of $19.13.
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Based on Hewlett Packard Enterprise’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $7.53 billion and net profit of $778 million. In comparison, last year the company earned revenue of $7.44 billion and had a GAAP net loss of $612 million.
Based on the recent corporate insider activity of 137 insiders, corporate insider sentiment is negative on the stock.
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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: Enterprise Group, Financial Services, and Corporate Investments.
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