BMO Capital Raises Price Target on Hewlett Packard Enterprise (HPE) Following Mixed 3Q Report
- Wall Street opens flat as investors assess earnings
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial 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."
Shares of HP Enterprise closed at $22.09 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on Kimberly-Clark (KMB) Following 3Q Report
- T-Mobile (TMUS) PT Raised to $46 at Nomura, Remains Sidelined
- NXP Semiconductors (NXPI) PT Raised at Oppenheimer Ahead of Earnings and Potential M&A
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!