HP Enterprise (HPE) PT Bumped to $27 at UBS

December 1, 2016 6:59 AM EST
Get Alerts HPE Hot Sheet
Price: $24.21 +1.51%

Rating Summary:
    12 Buy, 9 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 28 | Down: 20 | New: 17
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UBS analyst Steven Milunovich reiterated a Buy rating and bumped his price target on HP Enterprise (NYSE: HPE) to $27.00 (from $26.00) on potential for improved enterprise group revenue growth.

Milunovich said the company's narrowed focus is paying off so far. "HPE's stock has outperformed since the split a year ago due to (1) inexpensive valuation, (2) earnings beats in F1H/16, and (3) announced divestitures of Enterprise Services and Software," the analyst notes. "Today only valuation remains with a P/E of 8x ex-cash and an EV/EBITDA of about 4x. We do have concerns regarding HPE's private cloud focus. We recently considered additional catalysts, including cost cutting and edge computing (link). Although gains may come more gradually, the stock could grind higher on Enterprise Group growth and significant buyback activity."

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 $23.80 yesterday.



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