HP Enterprise (HPE) Margin Improvement Continue; PT Up to $27 - BMO
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BMO Capital analyst Tim Long reiterated an Outperform rating and boosted his price target on HP Enterprise (NYSE: HPE) to $27.00 (from $26.00) following Q3 results as margin improvement continues.
Long commented, "Results were largely as expected, with revenues in line with our expectation and a strong margin performance. While the results were largely neutral, as the attention shifts to the RemainCo, we believe the pending divestitures will help streamline the business, better position the company for growth, and unlock value to further support a strong capital return program. We also believe the RemainCo is undervalued as it currently trades at less than 9x FY2017E EPS."
Shares of HP Enterprise closed at $22.87 yesterday.
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