Oppenheimer Sticks to Its Buy Rating for Hewlett Packard Enterprise (HPE)

Oppenheimer analyst George Iwanyc maintained a Buy rating on Hewlett Packard Enterprise (HPE) today and set a price target of $18. The company’s shares closed yesterday at $15.05.

Iwanyc noted:

“HPE reported strong October-quarter results ahead of expectations, while reaffirming FY19 guidance. The strength extended across segments, including continued Compute/Intelligent Edge (WLAN and switching) momentum and improved performance in storage (which is expected to continue into FY19). The company also continued to deliver operating margin improvement and remained engaged with its capital returns and stock buyback efforts (an important element in the current market environment). We remain comfortable with our thesis, seeing an improved product portfolio as a positive lever for HPE to gradually gain share. Tweaking estimates given guidance. Maintain Outperform.”

According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 6.0% and a 53.3% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Ceragon Networks, Juniper Networks, and Pure Storage Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hewlett Packard Enterprise with a $18.40 average price target.

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Hewlett Packard Enterprise’s market cap is currently $22.3B and has a P/E ratio of 7.56. The company has a Price to Book ratio of 0.95.

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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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