BMO Capital Raises Price Target on Hewlett Packard Enterprise (HPE) Following Mixed 3Q Report

September 8, 2016 9:38 AM EDT
Get Alerts HPE Hot Sheet
Price: $22.88 +0.48%

Rating Summary:
    12 Buy, 9 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade HPE Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

BMO Capital reiterated an Outperform rating on Hewlett Packard Enterprise (NYSE: HPE), and raised the price target to $26.00 (from $24.00), following the company's 3Q earnings report. HPE reported mixed results, with revenue of $12.2B coming up short of the consensus estimate of $12.6B. EPS of $0.49 beat $0.45 forecasts.

Analyst Tim Long commented, "Results were mixed, as a revenue shortfall was offset by a strong margin performance. Some of the revenue weakness was deliberate as HPE repositions the company for profitable growth, a positive move in our view. Separately, yet another divestiture was announced as the Software business is being spun off. The deal should further unlock value and positions the company as a pure play enterprise hardware vendor. That will offer an improved growth and margin profile, but likely also marks the last significant divestiture; execution will now be key."

For an analyst ratings summary and ratings history on HP Enterprise click here. For more ratings news on HP Enterprise click here.

Shares of HP Enterprise closed at $22.09 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

BMO Capital, Earnings

Add Your Comment